Jan Owen, California's commissioner of business oversight, on Tuesday invited representatives of 13 fintech companies to a "frank, constructive dialogue" on the obstacles they face with state licenses.
Federal Reserve Chair Janet Yellen appeared Tuesday before an uncommonly collegial hearing of the Senate Banking Committee, but the lack of outward drama masked the fact that lawmakers from both parties were using her testimony to lay the groundwork for a broader battle over the future of regulatory reform.
Rather than roll back provisions of the Dodd-Frank Act that have strengthened financial stability, policymakers should focus regulatory reform on tailoring rules for community banks.
Trust and transparency can be strengthened and like-minded borrowers and banks can be brought together if transactions are “tagged” and investments are explained, argues Bruce Cahan, adjunct professor at Stanford University.
Rather than just avoiding costly rules, cost-benefit analyses can also validate worthy ones. That is the case with proposals to toughen the leverage ratio.
