Christopher Waller

The Federal Reserve is moving quickly to implement its proposed "skinny" master account, giving state-chartered fintechs more access to the central bank's payment systems. But experts say a legal challenge to the rule is almost certain, regardless of where the Fed draws the line.

Technology
bank-of-america-bloomberg-news

Enterprise customers will be able to send payment data to the bank through an application programming interface, rather than as XML or Swift files.

Federal Reserve Board Governor Christopher Waller

Federal Reserve Gov. Christopher Waller said there was a popular "misunderstanding" Thursday regarding who can qualify for a "skinny" master account, noting that only firms with a bank charter would qualify for approval.

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Top takeaways from American Banker's 2026 Predictions report finds that midsize bankers push for app investments and are concerned about wire transfer fraud.

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Following a massive earnings miss three months ago, the bank-technology seller on Tuesday reported signs of stability and an embrace of new payments and financial services technology.