HR 8395

The Payments Access and Consumer Efficiency Act of 2026 (PACE Act) aims to regulate registered covered providers of payment services, which are defined as entities holding specific licenses and meeting certain financial and operational requirements. The bill establishes a registration process overseen by the Comptroller of the Currency, setting standards for reserve requirements, recordkeeping, and risk management. It also addresses customer protection, including ensuring access to payment services and establishing procedures for handling insolvent providers, particularly those offering access or custody services. Finally, the bill modifies existing securities laws to exclude balances held with these registered providers from being classified as securities.