U.S. Gives Banks 'Powerful' Guidance for Partnering with Fintechs

U.S. Gives Banks 'Powerful' Guidance for Partnering with Fintechs

June 9, 2023, Bloomberg Law

Mike Nonaka spoke to Bloomberg Law about how banks now have a clearer roadmap from U.S. regulators to ensure their financial technology partners comply with fair lending, privacy, and anti-money laundering laws.

According to Mike, when it comes to smaller banks and fintechs, “We just have to see what the agencies do next with this because there are areas in here that have become a lot more prescriptive than the proposal was.”