The Federal Reserve proposes a limited “skinny” payment account framework for fintech and crypto firms, calling for a temporary pause on Tier 3 applications during its policy review process.

The Federal Reserve seeks public comment on a new 'skinny master account' proposal with balance caps, no credit access, and a 90-day review process.

The Federal Reserve proposed 'skinny master accounts' giving eligible fintech and crypto firms limited direct access to Fedwire and FedNow payment systems.