U.S. Regulators Complete Review of Fintech Barriers

President Donald Trump signed Executive Order 14405 on May 19, 2026, directing six federal regulators to examine rules that may curb fintech innovation and competition. The Consumer Financial Protection Bureau, Securities and Exchange Commission, National Credit Union Administration, Commodity Futures Trading Commission, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency were instructed to assess barriers to bank partnerships, charters, insurance and other federal approvals for non-bank technology companies.

The six agencies reached the 90-day review deadline on Aug. 17, covering regulations, guidance, supervisory practices, orders, no-action letters and application procedures. The order calls for follow-up measures to encourage innovation within 180 days, setting a Nov. 15 deadline. Separately, the Federal Reserve must report by Sept. 16 on whether uninsured depository institutions and non-bank financial companies can gain broader access to Reserve Bank payment accounts and services, including options for transparent application procedures and decisions on complete requests within 90 days.