Integrating Financial Technology Innovation Into Regulatory Frameworks

This executive order directs the heads of the Federal financial regulators (the CFPB, SEC, NCUA, CFTC, FDIC, and OCC) to review, within 90 days, regulations, guidance, supervisory practices, and application processes that impede fintech firms from partnering with federally regulated institutions or obtaining charters, insurance, and other Federal authorizations, and to take steps within 180 days to encourage innovation based on that review. It also requests the Federal Reserve Board to evaluate access to Reserve Bank payment accounts and services for uninsured depository institutions and non-bank financial companies, submit a report to the President within 120 days, and, where permitted by law, establish application procedures with determinations within 90 days of application.

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No known legal challenges.