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ABA: The American Bankers Association
Compliance News

US Regulators Join the Global Financial Innovations Network

U.S. financial regulators—Commodity Futures Trading Commission, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and the Securities and Exchange Commission—on Oct. 24 announced they have joined the Global Financial Innovation Network. GFIN was launched in January 2019 by an international group of financial regulators to support financial innovation, provide a more efficient way for innovative firms to interact with regulators, and create a framework for cooperation between financial services regulators. Joining GFIN furthers U.S. regulators' objectives in promoting financial innovation and enhances the agencies' abilities to encourage responsible innovation in the financial services industry in the United States and abroad.

"By promoting knowledge-sharing on innovation in financial services, U.S. members of GFIN will seek to advance financial and market integrity, consumer and investor protection, financial inclusion, competition and financial stability," the news release said.