Tag: US; GAO

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U.S. Government Accountability Office Issues Recommendations on FinTech Regulation

U.S. Government Accountability Office Issues Recommendations on FinTech Regulation

By  Judith Rinearson and Eric A. Love

The U.S. GAO issued its anticipated 132-page report entitled “Financial Technology: Additional Steps by Regulators Could Better Protect Consumers and Aid Regulatory Oversight.”  In the report, the GAO describes the benefits and risks; regulatory oversight and challenges; and regulatory efforts to foster innovation with respect to the following four specified FinTech activities: person to person payments, marketplace lending, digital wealth management and distributed ledger technology.  It also offers recommendations about how to enhance FinTech regulation.

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