Fed ‘well positioned’ to regulate fintech firms – Brainard
Central bank sees value of caution, but is not looking to stifle innovation
The Federal Reserve is "well positioned" to shape the development of financial technology (fintech) in the US using tailored regulatory and supervisory expectations, governor Lael Brainard said today (December 2).
Brainard said it is "critical" that fintech firms understand the necessary legal protections and obligations when doing business, although regulators should also not impose "undue burdens" on firms whose innovations could offer broad social benefits.
The regulation of fintech is
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