As financial technology (fintech) startups enhance collaboration with traditional financial institutions to diversify and modernize financial services, a better understanding of how the regulatory environment impacts a company’s operations is becoming increasingly critical.
The FinTech Innovation Lab’s (FIL) new regulator-in-residence, former Deputy Assistant Secretary of Treasury Jonah Crane, is attempting to answer these questions for the FIL cohort. Crane’s expertise enables companies in the lab to identify and develop strategies to address potential regulatory and policy issues.
Recently, Crane organized a day of meetings in Washington, D.C., for the FIL class to meet with key regulatory agencies: the Consumer Financial Protection Bureau (CFPB), the Federal Reserve Board, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC).
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