Information provided to members by OGR

As appropriations deadlines loom and campaign season heats up, Capitol Hill is entering a critical stretch. This week’s developments will shape the fiscal and political landscape heading into the summer—especially for stakeholders navigating regulatory complexity in the payments space.

In this week’s OGR’s Big Picture, available exclusively to IPA members, we cover:

• House subcommittee markups and the behind-the-scenes dynamics slowing progress
• A breakdown of proposed amendments with potential implications for financial services
• How debt ceiling debates are shifting as August draws closer
• Senate hesitation and what it means for timing of final packages
• Updates on the President’s international agenda and what it signals for trade priorities

And in Tuck’s Tax Take: A closer look at evolving revenue proposals—and whether they’re likely to hold up in reconciliation.

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Information provided to members by OGR

The reconciliation clock is ticking on Capitol Hill, and this week may shape the trajectory of tax, healthcare, and trade policy for the rest of the year. From renewed debates over Medicaid cuts to new developments on U.S.-China tariffs, members of the Innovative Payments Association are getting timely, actionable insights to help them navigate the rapidly shifting policy landscape.

In this week’s OGR’s Big Picture, available exclusively to IPA members, we dive into:

• Key developments in the House’s reconciliation process—and what’s holding it up
• Chairman Smith’s preliminary tax package and what’s still missing
• The latest on debt limit pressure and its timeline
• A sweeping executive order on drug pricing—and its implications for Medicare
• What President Trump’s new China trade deal and upcoming Middle East trip signal for global economic policy
  
  

Plus, “Tuck’s Tax Take” breaks down what’s included (and what’s not) in the initial tax framework—and what it could mean for the payments space.

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You’re missing real-time updates, strategic guidance, and direct access to policy analysis that helps our members stay informed and ready—not reactive.

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The payments industry lost a thoughtful leader and kind colleague with the passing of Andrew Siden, Founder of Expanse Financial Technology and a valued member of the IPA Board.

Andrew was more than a fintech executive; he was a steady voice in a constantly evolving industry. He brought clarity to complexity and offered insight with precision and humility. Whether you were discussing regulatory hurdles or startup challenges, Andrew approached every conversation with patience, warmth, and curiosity.

I had the great fortune to have the opportunity to work alongside Andrew during my time at the IPA.  Andrew was more than just an entrepreneur.  Andrew was a colleague, a confidant, and a friend. He will be sorely missed by me. 

We’re grateful we had the opportunity to capture a piece of Andrew’s story in one of our 2022 podcast episodes, Innovation Requires an Even Keel. In that conversation, he discussed the evolution of his company, the importance of timing and luck in entrepreneurship, and how to lead with both ambition and grace. Listening to it again now reminds us of his thoughtful leadership and enduring optimism.

You can listen to the episode here:
Innovation Requires an Even Keel – IPA Podcast

We also invite you to read Andrew’s obituary published in The New York Times:
Andrew Siden Obituary – Legacy.com

We extend our deepest condolences to Andrew’s family, friends, and the team at ExpanseFT. As Michael Gaspar steps forward to lead the organization, we know he carries Andrew’s vision and values.

Andrew’s absence was deeply felt at this year’s Innovative Payments Conference, and his influence will be felt for years to come.

Donations may be made to the American Heart Association to honor his memory.

He will be sorely missed by everyone who knew him.

As we head into the final stretch of the 2025 Innovative Payments Conference, today’s agenda delivered thoughtful insights, sharp debate, and high-level perspectives on the forces shaping the future of financial services.

We started with a powerful panel on Bank-Fintech Relationships, where speakers tackled the fallout from the recent BaaS shakeups and how oversight, accountability, and collaboration must evolve. From there, Acting Comptroller Rodney Hood offered a timely fireside chat that explored how regulators can walk the line between enabling innovation and maintaining system stability—especially in today’s fast-moving financial environment.

The morning continued with compelling commentary from Mark Calabria and a thought-provoking session with Jonathan Eig, who reminded us that while today’s challenges feel unprecedented, we can learn a great deal from historical figures who led through turbulent times.

The afternoon sessions pushed the conversation even further. In a headline-making talk, Suresh Ramamurthi explained why a legal battle between CBW Bank and the FDIC may redefine how banking regulations are enforced—and why the payments community should be paying close attention.
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As we wrap up IPC 2025, we leave with new insights, renewed connections, and a sharper focus on what’s next. Thanks to all who joined us in Washington, D.C., and to the experts who shared their perspectives and sparked vital conversations

As we close out the first full day of the 2025 Innovative Payments Conference, we’re reflecting on the conversations, connections, and critical issues that shaped today’s agenda.

From the opening session on protecting the gift card ecosystem from fraud to our closing look at the payments threat landscape, every discussion reinforced the pace of change—and the need for collaboration—in the evolving world of fintech and payments.

We kicked things off with a fireside chat between IPA CEO Brian Tate and former FDIC Chair Jelena McWilliams, who shared her candid perspective on regulatory oversight, deposit insurance, and lessons learned from the Synapse bankruptcy. Her insights into institutional resilience and the complexities of managing failure offered a thoughtful lens on what’s ahead.

That theme of future-thinking carried through the rest of the morning:

• A panel on the future of the payments value chain explored how AI, faster payments, and global perspectives are reshaping how we build and deliver financial products.
• Stephen Middlebrook then provided a detailed look at two recent Executive Orders targeting federal payments modernization and fraud prevention, urging us to think more critically about digital infrastructure and operational integrity.

After lunch, Roy Sosa and Kate Lybarger inspired the room with a special presentation chronicling Roy’s 26-year journey from $750 and a vision to launching Cambio, a new multi-currency debit product focused on building credit and serving underbanked communities.

The afternoon sessions brought both clarity and urgency:

• A panel of legal and compliance experts addressed how bank–fintech partnerships are shifting in the wake of consent orders and third-party risk scrutiny.
• Another session tackled the fast-growing world of Earned Wage Access (EWA)—a product reshaping financial wellness for millions of workers but still navigating a patchwork of regulatory frameworks.
• Conversations on gift card fraud and the role of government and industry collaboration highlighted how organized retail crime is forcing innovation in legislative response.
• And we closed the day with Visa’s Dan Munson, who walked us through the latest intelligence from Visa’s Payment Ecosystem Risk and Control team—giving attendees actionable strategies to protect against scams, system misconfigurations, and emerging threats.

Information provided to members by OGR

This week marks an important moment in Washington, with Congress returning from recess, the Trump Administration hitting its 100-day milestone, and major budget and regulatory battles ahead.

OGR has provided an in-depth analysis of the current political landscape, covering critical updates on the administration’s upcoming budget plans, Congressional priorities, and the intense work underway on budget reconciliation and regulatory rollbacks.

Among the highlights:

• A spending rescission package and budget proposal from the White House are expected soon.
• Congressional leaders are racing to extend 2017 tax cuts and navigate the debt ceiling deadline.
• Major policy debates are unfolding over entitlement reforms, tax provisions, and environmental regulations.

This is just a preview — full details, including committee markups and strategic analysis on what's ahead for the House and Senate, are available exclusively to our members.

Stay informed. Stay ahead.
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April is financial literacy month, which is a good time to reflect on how much the knowledge needed to be financially literate has grown over the past few years.

The growth of new financial products means that learning money management requires training in money-related topics, technical skills, and even self-defense.

 At its core, being smart about money always will require understanding core concepts like budgeting, credit, and saving. But with the arrival of products like small dollar investing, cryptocurrencies, and gambling apps, individuals are presented with the promise of rewards and need to understand the risks that go along with the opportunities.

Additionally, smartphones mean that now everyone is carrying their financial lives in their pockets. They need to understand safe and efficient ways to manage their technology along with their money. People now need to understand whether the products they want to use are compatible with the technology that they have.

The need for technical education will increase as artificial intelligence tools, including agents that can make decisions on behalf of customers, become widespread. Customers using these tools will lead to learn how to correctly prompt AI to achieve their goals.

Finally, all the new products and new technology have been a bonanza for scammers of all kinds. So, the users of all these tools need to learn cyber self-defense including having anti-malware tools, recognizing the ways scammers approach people, and knowing what to do if they are compromised.

What does all this mean for payments providers?

The best customers are the ones who use products well, are happy with them, and turn into repeat customers. These are the ones who bring their friends.

So, providers need to make sure that they are providing the right education to their customers and prospective customers. Research shows that people respond best to just-in-time financial education that comes when they need to make a decision.
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Regulations require a lot of disclosures to be provided to customers, so it’s tempting to think that those disclosures are the end of the story. But companies should think about when and where they have opportunities to provide financial education that helps their customers be successful.

The Innovative Payments Association (IPA) today announced that three leading payments organizations—the Money Services Business Association (MSBA), the Canadian Prepaid Providers Organization (CPPO), and the Payments Innovation Forum (PIF) based in the United Kingdom—will participate in the 2025 Innovative Payments Conference (IPC). Their involvement highlights how IPC reflects the increasingly borderless nature of the payments landscape.

“Payments are no longer defined by geographic boundaries; they are global, fast-moving, and interconnected,” said Brian Tate, President and CEO of the IPA. “By welcoming CPPO, MSBA, and PIF to IPC 2025, we are bringing together the best and brightest from the U.S., Canada, and the U.K. to ensure that the conference delivers the insights, strategies, and connections payments professionals need to thrive in today’s marketplace.”

Taking place April 29–May 1 in Washington, D.C., IPC 2025 will feature expert perspectives on the regulatory, technological, and operational forces shaping the future of payments. The presence of these international organizations gives attendees the opportunity to learn from and engage with innovators and thought leaders across three major markets.

The conference will explore how different regions are approaching innovation, consumer needs, and regulatory change, and how shared insights can help move the global payments industry forward. Key sessions at IPC 2025 include:

• Insights into fraud trends and prevention strategies
• The future of banking as a service (BaaS)
• Fireside chats with regulators and fintech leaders

By bringing together key voices from the U.S., Canada, and the U.K., the IPA is fostering a truly international dialogue around payments—and helping professionals position their organizations for long-term success.

For more information about the 2025 Innovative Payments Conference or to register, visit www.ipa.org/ipc. Members of CPPO, MSBA, and PIF are eligible for discounted registration. Please contact your association directly for details.
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About the Innovative Payments Association

The Innovative Payments Association (IPA) is the leading voice of the electronic payments industry, representing prepaid products, mobile wallets, and P2P payment technologies for consumers, businesses, and governments. IPA works to advance the adoption of electronic payments, promote financial inclusion, and advocate for the industry before legislative and regulatory bodies.

Originally reported by OGR Washington.

After a brief pause, Congress is back in session this week for a critical three-week stretch with major implications for the Republican majority and the Biden administration's legacy.

GOP Pushes for Budget Reconciliation Amid Debt Ceiling Concerns

With fiscal year 2025 in the rearview, Republican leaders are focused on advancing a partisan budget reconciliation package. Key negotiations between House Speaker Mike Johnson and Senate Majority Leader John Thune will attempt to bridge the still-wide gap between House and Senate versions. While President Trump has pushed for passage by Memorial Day, internal party divisions—particularly around including a debt ceiling increase—could delay progress. Many GOP lawmakers remain wary of backing a debt ceiling hike without significant spending cuts.

Executive Orders and Party Dynamics

In just over two months, President Trump has signed a staggering 96 executive orders—far outpacing his first term and President Biden’s pace during his tenure. These orders touch on government efficiency, DEI, trade, and immigration. While they deliver swiftly on campaign promises, concerns are emerging among Republicans about unintended consequences. Despite this, the GOP remains relatively unified around the president’s agenda.

Democrats, on the other hand, are regrouping after pre-recess friction over support for the continuing resolution (CR). Senate Democrats helped Republicans pass the CR through September, prompting criticism from the party’s base. Democratic leaders now face pressure to deliver a compelling counter-narrative to the Republican agenda.

Trade Strategy Unfolds as April Deadline Looms

As President Trump’s reciprocal tariff deadline of April 2 approaches, Treasury Secretary Scott Bessent revealed plans to assign country-specific tariff levels—focusing on a so-called "Dirty 15" list. While some deals are reportedly in the works to avoid tariff escalation, uncertainty remains. The administration is also considering industry-specific tariffs, adding to global trade tensions. A key House Ways and Means Trade Subcommittee hearing this week will further examine American trade priorities.

House Activity: Legislative Highlights and Special Elections

Floor action in the House will be light this week due to the funeral of Rep. Raul Grijalva (D-AZ). However, behind closed doors, Ways and Means Chairman Jason Smith is preparing for reconciliation by aligning committee Republicans. The House will also move to repeal late-stage Biden administration energy efficiency rules using the Congressional Review Act and take up the Deterrent Act to tighten foreign funding disclosures for U.S. universities.

Two House seats—vacated by the deaths of Reps. Grijalva and Turner (D-TX)—have slightly narrowed the GOP majority to 218-213. While Arizona has scheduled a special election for September, Texas has yet to do so. Republicans are expected to regain ground with upcoming special elections in Florida.

Senate Focus: Budget Talks and Nominations

The Senate returns from its longest work period in 15 years and turns its attention to reconciliation strategy and sub-Cabinet nominations. Leader Thune’s top priority will be negotiating a unified budget resolution with the House, amid behind-the-scenes meetings with the Senate parliamentarian. The chamber will also vote on several nominees, including positions at the Navy, State Department, NIH, FDA, and DOJ.

The landscape of financial services in the United States is evolving rapidly, and Open Banking is at the forefront of this transformation. That’s why we’re proud to support Open Banking Expo USA 2025, an event that will bring together leaders, innovators, and policymakers to discuss the future of consumer permissioned data sharing and Open Finance.

Scheduled for June 26 in New York City, the event will serve as a critical platform for banks, credit unions, fintechs, and technology providers to explore the real-world applications of Open Banking and its impact on financial inclusion, regulatory compliance, and data security.

Mastercard Leads the Charge as Headline Partner

We’re excited to share that Mastercard has been announced as the headline partner for Open Banking Expo USA 2025. A global leader in payments innovation, Mastercard is driving the next wave of Open Banking adoption, ensuring that financial services remain secure, inclusive, and seamless for consumers and businesses alike.

Bart Willaert, EVP of Open Banking at Mastercard, emphasized the potential of Open Banking, stating:

"Open Banking is transforming financial services, and the opportunities for growth are exponential. We look forward to convening at the Expo as we work together as an ecosystem to enable innovative and secure financial experiences that responsibly support all parties."

Join Us & Save 20%

As an official event supporter, we encourage our community to attend Open Banking Expo USA 2025 and be part of the conversation shaping the future of finance.

To save on the conference use code IPA20 for 20% off when you register at https://www.openbankingexpo.com/usa/usa-registration/