What has happened?
The Federal Reserve Board is to hold a series of "FinTech innovation office hours" across the U.S. to meet with banks and companies involved in FinTech.
What does this mean?
The aim of the sessions is for banks and FinTechs to meet on a one-to-one basis with Federal Reserve staff with relevant expertise to discuss FinTech developments and ask questions.
The sessions may be of particular help to community banks and their FinTech partners.
Sessions will be co-hosted with Reserve Banks, with the first meet ups at the Federal Reserve Bank of Atlanta on February 26, 2020.
The Federal Reserve Board also launched a new section on its website specifically focused on FinTech innovation.
The section will serve as a central information hub for stakeholders interested in learning about and engaging with the Board on innovation-related matters.
It will feature the latest Federal Reserve Consumer Compliance Supervision Bulletin, which summarizes supervisory observations regarding FinTech and practical steps institutions can take.
Firms interested in participating in the Federal Reserve Board FinTech sessions can sign up here.