Original Content
A prototype payment account carries undue restrictions, fintech groups said in response to a Fed proposal that offers expanded real-time payments access.
Fed ‘skinny’ account idea draws criticism
AI Summary
- Fintech groups criticized a Federal Reserve proposal for prototype payment accounts due to undue restrictions.
- The Fed's proposal offers expanded real-time payments access but faces opposition from industry groups.
Texas Relevance
The article does not mention Texas, TCUD, or any Texas-specific entities. It discusses a federal proposal that applies to all credit unions nationwide.