REGULATION · US
Fed deadline passes on direct payment access; regulatory clarity stalls
A Federal Reserve deadline for determining direct-access criteria to Fed infrastructure passed without resolution. The debate centers on which payment firms and fintech platforms should connect directly to central bank settlement systems and under what conditions.
WHY IT MATTERS
Regulatory vacuum on payment fintech eligibility leaves BFSI uncertain on infrastructure consolidation; delays force banks to maintain legacy intermediary relationships, raising compliance and operational costs.
Source: PYMNTS · 2026-09-17