This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

US Fed may tailor payment services to firms with master account `bells and whistles’

By Neil Roland ( October 21, 2025, 21:38 GMT | Insight) -- The US Federal Reserve is looking into streamlining payment services to institutions that conduct these services primarily through third-party banks that have full-fledged master accounts, Fed Governor Christopher Waller said today. Many firms participating in substantial payment activities “may not want or need all the bells and whistles of a master account, or access to the full suite of Federal Reserve financial services, to successfully innovate and provide services to their customers,” said Waller, one of seven Fed governors. The idea, he said, is to tailor the services of new accounts to the needs of the firms and the risks they pose.The US Federal Reserve is looking into streamlining payment services to institutions that conduct these services primarily through third-party banks that have full-fledged master accounts, Fed Governor Christopher Waller said today....

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Related Sections