FinTech & Innovation
FinTech, Big Tech and the Safety of the Banking System
Congress articulated a clear view that to enjoy the benefits of being a bank – the right to accept deposits, lend and process payments with the benefit of the federal safety net (FDIC insurance or access to the discount window) –banks are expected to act prudently and comply with a meaningful regulatory and supervisory framework. Unfortunately, the safety and stability of our system is at risk as technology companies seek to act more and more like banks, but without adhering to a prudential framework. They seek all the benefits of being a bank without taking on the duties and responsibilities that come along with it. Learn more by visiting www.KeepBankingSafe.com.
Policy Experts
Chris Feeney
Executive Vice President and President of BITS
Heather Hogsett
Senior Vice President, Technology and Risk Strategy for BITS
Paige Pidano Paridon
Senior Vice President and Senior Associate General Counsel
Featured Reports
ILC Issue Summary
Download Report
Payments Charter Issue Summary
Download Report
RTP Issue Summary
Download Report