President Donald Trump issued another significant Executive Order affecting the financial services industry, this time directed at integrating financial technology innovation more directly into the U.S. regulatory framework. The Executive Order, entitled “Integrating Financial Technology Innovation into Regulatory Frameworks,” was signed on May 19, 2026 and appears designed to accelerate the integration of fintech firms, digital asset providers, and other non-bank innovators into the traditional banking and payments system.… Continue Reading
payment system
CFPB releases “Consumer Protection Principles” for faster payment systems
By Scott M. Pearson & Kevin D. Leitão on
Posted in Electronic Payments, Regulatory and Enforcement
The CFPB has released a list of nine “Consumer Protection Principles” that are intended to express the CFPB’s “vision of consumer protection in new faster payments systems.” The CFPB has previously shown support for the development of faster payment systems. In his November 2014 remarks to the Clearing House, Director Cordray suggested that sooner, rather than later, the industry should invest the billions of dollars required to build a payment system with “faster and even real-time payments” where “the interests of consumers remain at the top of [bankers’] minds.” … Continue Reading