In the wake of what seemed to be endless novel problems and disruption, I believe the Fed and Congress have done a reasonable job given the cards that we have been dealt.
Editor's note · Context
Foster praises the Fed and Congress for managing economic challenges.
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Since the Consumer Financial Protection Bureau opened its doors in 2011, it has served as the cop on the beat, protecting consumers from unfair, deceptive, and abusive practices.
Yes. McKinsey has estimated, I think, between 2 and 3 percent GDP loss from not having a high-quality digital identity.
Many financial firms I talked to just told me that a reliable form of digital ID would really simplify the Anti-Money Laundering/Know Your Customer (AML/KYC) process, and make it faster, cheaper, and more reliable when they have to confirm the identity of customers.
As the global economy changes, financial firms and their regulators must remain well-apprised of new and emerging risks.





