The Federal Reserve Board invited public comment following a May 21st proposal and supplement. The proposal would establish a uniform standard of review for granting access to Federal Reserve accounts and payment systems.
Governor Lael Brainard noted the following: “With technology driving rapid change in the payments landscape, the proposed guidelines would ensure novel requests for access to Federal Reserve accounts and payment services are evaluated consistently and transparently to ensure a safe and innovative payment system.” (Federal Reserve Press Release)