Federal Reserve Vice Chairman for Supervision Randal Quarles told an International Monetary Fund forum that he didn’t think ILCs were problematic; applications should be reviewed and granted based on the strength of the application; this is a shift for the Fed as they have said in the past that ILCs were an issue and that Congress should consider cracking down on them. Source.
Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.