All developments
Federal ReserveGeneralMay 26, 2026

Fed Proposes No Interest on New Special-Purpose Payment Accounts

The Federal Reserve is proposing to create a new category of 'Payment Accounts'—special-purpose master accounts distinct from standard Fed accounts—and would explicitly exclude balances in these accounts from earning interest. This is directly relevant to fintechs, payment companies, and potentially crypto firms seeking Fed master account access, as it defines materially less favorable economic terms for this new account type. Compliance and treasury teams at institutions pursuing Fed account access should factor this into their business models.

What to do

  • Review the proposed rule and assess whether your institution's current or planned Federal Reserve master account strategy would be classified as a Payment Account, then submit comments to the Fed before the comment deadline if the no-interest treatment would materially affect your business case.

Who this affects

Payments CompanyFintech / NeobankBank / Credit UnionTrust CompanyOther

Does this affect your program?

Pick your institution type for an instant read on whether you're in scope — then see exactly which sections of your own policies this changes.

Source

Read the official publication

This radar entry is educational and does not constitute legal advice. Summaries are AI-assisted and grounded in the linked official source; always verify against the primary source and consult qualified legal counsel for jurisdiction-specific guidance.

Related developments

SEC

SEC Approves Generic Listing Rules for Options on Multi-Crypto Asset ETFs

Cboe BZX is establishing standardized listing criteria and continued listing standards for options on commodity-based trusts that hold multiple crypto assets, as well as options on ETFs. This creates a more defined regulatory pathway for crypto-basket investment products to have listed options, which may affect how crypto custodians, broker-dealers, and exchanges structure and offer these products. Compliance officers at firms dealing in crypto-linked securities should review the new listing standards to assess product eligibility and any associated disclosure or supervisory obligations.

OCC

OCC Comptroller Speaks on Debanking Report Findings

Comptroller Gould publicly discussed findings from the OCC's supervisory review of debanking practices at the largest national banks, signaling heightened regulatory attention to how banks terminate or restrict customer accounts. For crypto firms, fintechs, and MSBs that have experienced account closures, this signals potential policy and supervisory pressure on banks to justify debanking decisions. Compliance officers at banks should expect greater scrutiny of their account-closure policies and documentation.

OCC

OCC Publishes Report on Debanking Practices at the Nine Largest National Banks

The OCC released a formal report detailing its supervisory findings on how the nine largest national banks it oversees — including JPMorgan Chase, Bank of America, Citibank, and others — have conducted debanking activities, a practice that has disproportionately affected crypto firms, MSBs, and fintechs. This report is a significant regulatory signal that the OCC is scrutinizing blanket or poorly justified account terminations and may indicate forthcoming supervisory guidance or expectations. Crypto and fintech compliance officers should review the findings to understand the regulatory landscape around banking access and use it to engage their banking partners.

SEC

Cboe BZX Wins Approval to List 3x Bitcoin and 3x Ether Leveraged ETFs

The SEC approved Cboe BZX's rule change allowing it to list and trade shares of leveraged (3x) ETFs tied to Bitcoin and Ether, alongside similar products for gold, silver, crude oil, and natural gas. Broker-dealers and exchanges offering these products will need to ensure customer disclosures, suitability reviews, and AML monitoring account for the heightened volatility of leveraged crypto ETF shares.

Stay ahead of every rule change

PliOS monitors FinCEN, OCC, OFAC, the SEC and CFTC and tells you which of your policies each new rule affects — with the edit already drafted. Start free.

Run My Free Assessment