Michael Hsu, the acting Comptroller of the Currency said that policymakers may be devoting too much time on crypto.
A leading U.S. bank regulator said his caution over banks partnering with fintechs is not meant to stifle those arrangements, but rather reflects his concern that firms must adequately gauge their risks.
Michael Hsu, the acting Comptroller of the Currency, also told Reuters in an interview that policymakers may be devoting too much time and energy to thinking about cryptocurrency, at the expense of figuring out the best way to police other types of financial technology.
"Look, bank-fintech partnerships, they're here to stay. I'm not trying to do away with them," Hsu said on Wednesday. "This is the future, so let's do the future right."
BANKING ON FINTECH
In remarks last month that raised eyebrows across the financial services industry, Hsu said that the Office of the Comptroller of the Currency had observed partnerships between banks and fintechs growing at “...
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