Philadelphia Federal Reserve Bank President Patrick Harker explained in remarks at the Global Interdependence Center's Payment Systems in the Internet Age conference that increased regulatory oversight of the growing fintech sector is necessary; "Regulation is not just a question of protecting consumers; it's a question of protecting the innovators as well," Harker said. "It's in their best interest to have an established framework in which to operate."; he believes getting ahead of the curve with regulation is the way to go, instead of waiting to respond to the next possible crisis. Source
Philadelphia Fed president, Patrick Harker, gave a speech titled, "Fintech: Revolution or Evolution?" at the University of Pennsylvania; the speech was part of a lecture series at the School of Engineering and Applied Science; Patrick Harker discussed fintech in the context of technology, business and government noting innovation in cryptocurrency, blockchain, banking and regulation. Source