PayThink

By naming David Sacks as his "AI & Crypto Czar," Donald Trump has sent a strong signal that forward-thinking regulation of the most vibrant sector of the financial services industry could be on the way.

The integration of artificial intelligence into financial services demands a human-centered approach. This is both a moral obligation and a strategic necessity.

We've seen what can happen when BaaS providers fail to adequately protect consumers. Across the industry, we need to institutionalize the principles of safe banking, both inside and outside of traditional banks.

The populist strain that has long animated the left wing of the Democratic party seems to have migrated to the Republican center, benefiting President-elect Donald Trump in this year's election. We're about to find out whether right-wing populism is as earnest as its left-wing predecessor.

Cross-border person-to-person payments are vital to the survival of millions of vulnerable people. Right now, fees eat away at their money, and slow processing times create unnecessary stress. The financial services industry and partners in government can fix this problem.

If the Trump administration is really planning to trim back regulations on banking and financial services firms, the industry needs to get out in front of the process by identifying necessary reforms.

We should consolidate federal oversight of the banking industry within the Office of the Comptroller of the Currency. It would rationalize a system that has grown increasingly unwieldy over generations.

An industry lawsuit seeks to undermine a rule put forward by the Consumer Financial Protection Bureau that would make it much easier for consumers to manage their own financial health.

The Department of Justice is trying to fix a system that isn't broken. The better move would be to allow the ruthlessly competitive payments marketplace to generate new and better products.

Misconceptions about the risks of private credit must not be allowed to affect important policy decisions about an industry that provides vital support to a vast swath of the American economy.