On March 6, 2025, Chairman Tim Scott (R-S.C.) introduced the Financial Integrity and Regulation Management (FIRM) Act, a pivotal piece of legislation poised to eliminate the use of reputational risk in regulatory supervision. By enacting this legislation, the FIRM Act intends to prevent regulators
Cybersecurity has quickly become a paramount concern within the financial services industry, and recent data highlights the extent of these anxieties. According to the SIFMA Insights Equity Market Structure Compendium, an overwhelming 75.6% of respondents expressed their deep concern over the
In the modern digital economy, financial transparency has become increasingly important due to the rapid growth of global transactions and the demand from both businesses and consumers for secure, accurate, and traceable payment systems. Digital payment systems are essential for enhancing financial
In today's rapidly evolving technological landscape, artificial intelligence (AI) and automation have become central to revolutionizing financial operations across various sectors. This wave of technological advancement is transforming the way businesses manage finances, making processes more
In an era where financial technology (fintech) and cryptocurrency are revolutionizing how we handle money, the issue of regulatory modernization becomes paramount. The advancements in technology have brought both opportunities and challenges for the financial sector. Someone might wonder, do our
The issue of over-optimism among borrowers is a significant concern for consumer credit regulation, as many consumers fall into the trap of overestimating their future income and underestimating financial risks, leading to overborrowing. This article explores the cognitive biases that contribute to
