Opinions

Agencies supervising lenders should make it clear that the transition to less discriminatory algorithms won’t be used to punish banks for their previous use of older, less effective systems.

A new and larger finance industry is emerging — one in which traditional institutions aren’t nearly as dominant as they used to be.

Without a rule standardizing data sharing standards, the Consumer Financial Protection Bureau risks the creation of a patchwork system of privacy standards as consumers seek the benefits of an open banking ecosystem.

The creation of a U.S. dollar central bank digital currency is an existential threat to the banking industry and needs to be treated as such.

For all of the regulators’ progress over the years, many are still relying on an internal technology framework that was built for 1992, not 2022.

To create sensible rules around decentralized finance, regulators have to have an open discussion with businesses in the industry. To do that, they must create a path for collaboration.

Widespread sharing of financial and other data creates enormous privacy risks for consumers, many of whom have no real understanding of the danger.

We’re all entitled to our own opinion at work, but what if it starts impacting improvements and growth? 

Banks need to come together to create interoperable tokenized deposits, as part of an effort to bridge the gap between traditional finance and blockchain.

A clear, cross-agency regulatory framework is needed to help the industry embrace the promise of this new financial services paradigm.