Regulatory frameworks should apply to activities not institutions – Mester
Cleveland Fed president says policy-makers must increase co-operation and co-ordination on fintech
Regulation should be adapted towards financial services activities, not institutions, according to the president of the Federal Reserve Bank of Cleveland.
Speaking at the Federal Reserve Bank of Philadelphia’s annual fintech conference this month, Loretta Mester noted that the emergence of technology had highlighted the need for regulatory frameworks to evolve alongside the changing ways financial services products are being offered.
“A regulatory approach that shifts the focus from the type
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