U.S. posts fintech integration proposal

The Federal Register on May 22 published Executive Order 14405, an executive-branch directive that says the U.S. government should update financial regulation to better accommodate financial-technology firms. The order says federal agencies should allow the integration of digital assets and other innovative technology into traditional financial services and payment systems. It also says the government should remove “overly burdensome and fragmented” rules and supervisory practices that it says create barriers to entry. The document arrives as fintech remains active but uneven. FinTech Futures reported on May 22 that startups including Getquin, Synthetic and Jia were among companies announcing fresh funding, while TheStreet reported the same day that Parker, a fintech firm that had raised $200 million since 2019, filed for Chapter 7 bankruptcy. (federalregister.gov) ### Which regulators does the order actually name? Executive Order 14405 defines “Federal financial regulators” to include the Consumer Financial Protection Bureau, the Securities and Exchange Commission, the National Credit Union Administration, the Commodity Futures Trading Commission, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency. The order also defines fintech firms broadly as non-bank companies using technology to offer or support financial products or services. (fintechfutures.com) The Federal Register text says those financial products and services can include payment processing, lending, deposit-taking, investment management, brokerage, underwriting, custodial and fiduciary services, digital banking, digital-asset services, securities and commodities market activity, and blockchain-based services. (federalregister.gov) ### What does Washington say it is trying to change? Section 1 of the order says the United States is a global leader in financial innovation and that fintech firms can expand access to financial products and services. The same section says the federal government must update regulation so innovative technology can be integrated into traditional finance and payment systems. (federalregister.gov) The order also says fragmented regulation and supervision have primarily benefited incumbent financial-services firms. Its stated policy is to streamline regulatory processes, reduce unnecessary barriers to entry and encourage collaboration among fintech firms, federally regulated financial institutions and federal regulators. (federalregister.gov) ### Why does this land in the middle of mixed fintech signals? FinTech Futures said on May 22 that German wealthtech Getquin raised €12 million in a round led by Portage and State Street Investment Management. The same roundup said U.S.-based Synthetic raised $10 million in seed funding led by Khosla Ventures, underscoring continued early-stage appetite for fintech deals. (federalregister.gov) TheStreet reported on May 22 that Parker had filed for Chapter 7 bankruptcy, citing court documents filed on PacerMonitor. The report said Parker had raised $200 million in total funding since starting in 2019, and quoted fintech consultant Jason Mikula as saying the abrupt closure left some small businesses in a difficult position and raised questions about partner-bank oversight. (fintechfutures.com) ### What does the order cover beyond apps and payments? The Federal Register text says the definition of fintech reaches beyond consumer-facing apps. It includes non-bank companies using digital or online technology to facilitate access to, management of, or data processing for financial products and services. (thestreet.com) The same document explicitly includes digital-asset-related services and blockchain-based services in the list of covered activities. That places crypto-linked and infrastructure providers inside the policy framework set out in the order, alongside more established categories such as lending, brokerage and deposit-related services. (federalregister.gov) ### What happens next under the published order? Executive Order 14405 was signed on May 19 and published in the Federal Register on May 22 as document 2026-10399. The order sets the formal policy framework now, and the next step is the agency work required under the timelines laid out in the text, including reports and implementation planning over the coming months. (federalregister.gov) The Federal Register entry for document 2026-10399 is the primary public record for the order, and agency responses will be traceable through follow-on notices, guidance and filings from the named regulators. (federalregister.gov)