Fed's 'Skinny' Payment Account Plan Leaves Nobody Happy

Also, CFPB deputy lights up Chopra at financial education meeting

When the Fed proposed this spring to create a new path for financial technology firms to access the U.S. payments system, it tried to stake out a middle ground. As with many compromises, however, it turns out that nobody is happy.

The dissatisfaction with the idea of “skinny” master accounts was made clear in comment letters that have been arriving over …