The Federal Reserve is reportedly considering granting FinTechs a form of direct access to its core payment infrastructure. Fed staff is looking into “skinny” master accounts that would give select FinTechs access to the accounts banks use to move money through Fed systems, but would exclude access to interest, overdraft privileges and discount window borrowing, Bloomberg reported Tuesday (Oct. 28). For FinTechs, an arrangement like this could allow them to hold customer reserves directly...
