The FDIC Launching an Innovation Office
The Federal Deposit Insurance Corporation will become the latest government agency to set up an office of innovation. They aim to foster a more welcoming environment for banks to adopt new financial technology. Speaking at the American Bankers Association conference FDIC Chairman Jelena McWilliams said that bank regulators need to do a better job of encouraging banks to innovate. This is why the most dynamic changes are happening outside the banking industry. Source.