Trump Orders a Review Into Banking Barriers for Fintech Firms

Contributing sentiments towards policy:

59% : They are also required to review existing regulations, guidance, supervisory practices, and application processes and to flag any that could be updated "to facilitate innovation.
58% : "To foster this financial innovation, the federal government must update regulations to allow integration of digital assets and innovative technology into traditional financial services and payment systems.
57% : The order directs the Federal Reserve Board to evaluate the legal, regulatory and policy framework governing fintech and crypto firms' access to Federal Reserve payment systems and submit a report to Trump within 120 days.
54% : Financial regulators are also asked to review regulations that could be amended to streamline applications for eligible fintech firms seeking bank and credit union charters.
53% : The heads of the federal financial regulators are also asked to review regulations, guidance documents, orders, and no-action letters that could be amended to streamline applications for eligible fintech firms seeking bank charters, credit union charters, deposit or share insurance, and other federal licenses.
50% : As part of the order, over the next 90 days, the heads of each US federal financial regulator are asked to review regulations, orders, and no-action letters that may be preventing fintech firms from entering into partnerships with federally regulated institutions such as credit unions, broker-dealers, and investment advisers.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.