Opinions

It won't be cryptocurrencies or central bank digital coins that revolutionize global finance, but rather banks offering deposit tokens that have many of the benefits of both.

The state's ill-conceived law banning interchange fees on sales tax and gratuities will be burdensome and expensive to implement and could portend a patchwork of state-level copycat legislation that would balkanize the payments system.

Artificial intelligence is going to be integrated into the financial system. So, banks need to be clear-eyed about its potential dangers, and proactive about avoiding them.

As with EVs, digital money was a niche product for years before gaining widespread acceptance. Now, digital blockchain-based monies might be on the verge of a major breakthrough.

It has never been more important for banks, particularly those over $10 billion of assets, to establish ironclad data quality, governance and control standards. The failure to do so will have cascading negative consequences.

The ability to make cash transactions is vital to some Americans, and when technology fails us, it can be a lifeline for all Americans. We need to preserve it.

While banks are trying to advance, regulators are lagging, with outdated rules failing to address today's technological and digital asset realities. It's time for a new paradigm in banking regulation.

Generative AI is exciting, but has limited fraud-busting utility. Instead of rushing to implement gen AI-powered anti-fraud initiatives, banks should focus on strengthening their existing security measures.

The siren song of greater regulatory uniformity will lead the industry to disaster, as the kind of innovation that benefits consumers is stifled.

Financial services supervisors should revisit the concept of regulatory sandboxes. Doing so would allow fintechs to gain needed experience in the world of banking, while fostering innovation.