Our thanks to Nigel Morris-Cotterill for the heads-up on this story… Basically the US regulators are saying “you can use FinTech/RegTech if you want to, but you don’t have to and, if you do, it might tell us stuff you don’t want us to know.”
US regulators issue joint statement for banks and credit unions
What the regulators are saying can perhaps be summed up like this: “you can use FinTech/RegTech if you want to but you don’t have to and, if you do, it might tell us stuff you don’t want us to know.”
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