TRUMP EO DIRECTS FED, REGULATORS TO BOOST FINTECH

The executive order directs agencies to examine existing rules that may hinder financial technology companies. A key focus is removing barriers that prevent fintechs from accessing traditional payment infrastructure. The move aims to increase competition in financial services and reduce regulatory friction for non-traditional lenders and payment providers. Payment account access has been a persistent challenge for fintech firms seeking to compete with established banks. The Fed and other financial regulators now face a mandate to assess current policies and propose changes that would facilitate fintech integration into the broader financial system. The order does not specify a timeline for the review or which policies should be prioritized. This represents an explicit pivot toward deregulation in the fintech sector after years of increasing regulatory scrutiny from the Biden administration.