The Fed has no interest in direct retail access (see narrow banking[1]). This is all about improving the plumbing for those services, not replacing them. [1]:

The Fed has no interest in direct retail access (see narrow banking[1]). This is all about improving the plumbing for those services, not replacing them. [1]: https://www.bloomberg.com/opinion/articles/2019-03-08/the-fed-versus-the-narrow-bank https://www.bloomberg.com/opinion/articles/2019-03-08/the-fe...