Leader of the firm’s fintech practice Brian Korn spoke with Bloomberg about the partnerships between fintech companies and community banks. In the article, Korn notes that banks that enter into such partnerships could face regulatory risk as a result of their fintech partners’ actions. “The banks are the supervised entities so the buck stops with them,” he says. “The regulators are waiting for situations where there’s a breakdown.”
Read the article here.
This article was also pickup in The Washington Post and Los Angeles Times.