US bank regulator warns of crisis risk from fintech proliferation ‘Channel News Asia’ News Summary (Singapore) BEAMSTART


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Quick Summary: WASHINGTON :The rise of fintech services and digital banking could spur financial risks and potentially a crisis over the long term, Michael Hsu, Acting Comptroller of the Currency, a major regulator, warned on Wednesday. FILE PHOTO: Representations of cryptocurrencies in this illustration taken January 24, 2022. That could create IT risks around information security and resilience, and also raises customer protection issues, said Hsu.