Donald Trump signed an executive order directing the Federal Reserve to review whether fintech and crypto firms should be granted direct access to the central bank’s payment infrastructure. The new report emphasizes potential non-bank access to payment rails and says the move could alter competitive dynamics between fintechs and traditional banks. Existing topic information also cites White House language describing a broader review of Federal Reserve master account access for fintech firms, including crypto companies. Because the descriptions are closely related but not identical, both formulations remain in the topic record pending further clarification.