The FDIC requested information on whether a public/private standard-setting partnership and voluntary-certification program would benefit FDIC-supervised financial institutions seeking to employ new technologies.
The New York State Department of Financial Services launched a new program to support innovation in financial services. The FastForward program is intended to support innovators developing FinTech, InsurTech and HealthTech solutions.
In its Annual Economic Report, dated June 23, 2019, the Bank for International Settlements urged regulators to implement policies and regulations that address the emergence of "big tech" in financial markets.
FDIC Chair Jelena McWilliams described the need to better define the scope of the Volcker Rule "so that both bankers and supervisors have clear rules of the road." She also weighed in on recent legislation, FinTech and improved international coordination.