American Banker Technology

Fed 'Skinny Accounts' Take Early Heat From Crypto, Fintechs

The Federal Reserve has proposed “skinny” master accounts that would give fintech and crypto firms limited access to its payment rails, aiming to boost innovation while containing risk. Fintech groups argue the design is too restrictive, citing exclusion from ACH and low overnight balance caps, and propose caps tied to payment volume. Crypto consortiums request higher caps and access to Fedwire Securities to settle Treasury purchases directly. Banking associations seek a 30‑day comment extension, and the Fed targets a final rule by Q4 2026.