Adding onto this, the Fed has proposed opening up Fed Master Accounts to non-bank fintechs (e.g., PayPal/Venmo). That would allow them to improve their own serv

Adding onto this, the Fed has proposed opening up Fed Master Accounts to non-bank fintechs (e.g., PayPal/Venmo). That would allow them to improve their own services by moving off of ACH. For those interested in the Fed Master Accounts topic, I recommend this Macro Musings podcast episode with George Selgin.[1] [1]: https://macromusings.libsyn.com/george-selgin-on-inflation-fintechs-and-broadening-access-to-fed-master-accounts https://macromusings.libsyn.com/george-selgin-on-inflation-f...