Fact Sheet: President Donald J. Trump Integrates Financial Technology Innovation into Regulatory Frameworks

President Donald J. Trump has signed a landmark Executive Order designed to cement the United States as the global leader in financial technology (fintech) by slashing "brick-and-mortar" era regulations and expanding access to the nation’s payment systems.The administration frames this move as a rejection of regulatory protections for "incumbent" big banks, favoring a competitive environment where innovative firms can lower costs and increase economic opportunities for all Americans.The order directs federal financial regulators to conduct a comprehensive "top-to-bottom" review of existing rules, guidance, and supervisory practices.Identifying Barriers: Regulators must identify and update processes that hinder innovation or favor established institutions over new competitors.Safety and Soundness: While promoting growth, the order maintains that all innovations must adhere to rigorous standards of financial safety.Digital Integration: The goal is to facilitate the seamless integration of digital assets and novel financial technologies into traditional banking and payment systems.In a significant move to level the playing field, the order asks the Federal Reserve to evaluate expanding direct access to Reserve Bank payment accounts and services.Inclusion of Non-Banks: The Fed is asked to explore options for allowing uninsured depository institutions and non-bank fintech companies to utilize federal payment systems.The Report: The Federal Reserve must report on its legal authorities to grant this access, identify legislative impediments, and propose options for expansion while mitigating systemic risks.The administration argues that current regulations are "relics" of a past age that protect large, established banks at the expense of agile innovators.Third-Party Risk Management: The order targets "resource-intensive" requirements that make it difficult for small fintechs to partner with larger institutions.Lowering Costs: By removing these burdens, the administration intends to drive down the cost of banking, payments, brokerage, and custodial services for American consumers.This Executive Order is the latest in a series of actions taken by President Trump to secure U.S. dominance in the 21st-century economy:Strategic Bitcoin Reserve: Building on the March 2025 order that established a U.S. Digital Asset Stockpile, positioning the country as a global leader in sovereign digital strategy.Modernizing Government Payments: Moving the federal government away from "old-fashioned" paper payments to secure electronic systems.6G Leadership: Ensuring the U.S. leads the world in the next generation of telecommunications to support a high-speed digital economy.The GENIUS Act: Supporting the ongoing legislative push to lead the global digital currency revolution.The President's order is designed to ensure that American financial services are as advanced as the technology that powers them. By prioritizing "innovation and global competitiveness" over bureaucratic red tape, the administration aims to create a "New Golden Age" of financial opportunity where every American can benefit from faster, cheaper, and more secure financial tools.1. Modernizing the Regulatory Landscape2. Expanding Access to Federal Reserve Payment Rails3. Innovation Over Incumbency4. A Comprehensive Strategy for Digital DominanceConclusion