Banks that work with financial technology companies to offer banking services should be actively managing risks associated with those relationships, a leading U.S. bank regulator said Wednesday. . -February 21, 2024 at 01:43 pm EST
- MarketScreener
Banks that work with financial technology companies to offer banking services should be actively managing risks associated with those relationships, a leading U.S. bank regulator said Wednesday. Michael Hsu, the acting Comptroller of the Currency, has long expressed concern about certain gaps in the regulation of the payments system, emphasizing the responsibilities regulators have to ensure that banks are monitoring for risks stemming from third-party arrangements. Nonbank fintech companies often work with banks in order to provide banking services like checking and savings accounts to their customers.
By Hannah Lang (Reuters) - Banks that work with financial technology companies to offer banking services should be actively managing risks associated with those relationships, a leading U.S. bank regulator said Wednesday. THE TAKE Michael Hsu, the .
How Fintech-Forward Banks Can Prep For Regulatory Scrutiny forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.