The Innovative Payments Association (IPA) responded to Treasury’s RFI on Executive Order 14247, which calls for the transition from paper checks to digital disbursements for all federal payments. IPA’s letter champions the role of prepaid accounts in this effort.

“Prepaid accounts are a proven, secure, and efficient way to disburse government benefits—especially for unbanked Americans,” said Brian Tate, IPA President and CEO. “Modernizing payments must prioritize access, cost savings, and fraud prevention.”
​
The comment letter outlines the extensive regulatory oversight already in place and makes recommendations for simplifying outdated rules that limit consumer access to credit and increase compliance burdens for providers. IPA also cautions against the FCC’s “Revoke All” rule, which could disrupt fraud alerts and financial communications.

In response to the OCC’s request for information on community bank digitalization, the Innovative Payments Association (IPA) submitted a letter underscoring the positive role of bank-fintech partnerships in expanding access to modern financial tools.

“Fintech partnerships are delivering responsible innovation to underserved communities and enhancing stability for community banks,” said IPA President and CEO Brian Tate. “These partnerships already operate under an existing, robust regulatory framework.”
​
The letter urges the OCC to avoid duplicative regulations that could stifle innovation. IPA highlighted how bank-fintech products like prepaid accounts, earned wage access, and small-dollar loans empower consumers—especially those who might otherwise turn to high-cost alternatives like payday lenders.

​The Innovative Payments Association (IPA) submitted a comment letter to the U.S. Treasury in response to the Presidential Memorandum investigating potential unlawful foreign contributions in U.S. elections. While the memo raised concerns about the use of prepaid products for “straw donor” schemes, the IPA urged Treasury and the DOJ to rely on the existing, rigorous anti-fraud and compliance frameworks already governing these products.

“Prepaid accounts are highly regulated and provide full transaction traceability,” said IPA President and CEO Brian Tate. “They are not a loophole but a lifeline for millions of Americans managing their financial lives.”
​
IPA emphasized that prepaid accounts comply with Bank Secrecy Act (BSA/AML) requirements and support financial inclusion, especially for unbanked and underbanked communities. Rather than overcorrecting, the letter calls for informed policy rooted in the realities of how these products work.