On December 2, the Office of the Comptroller of the Currency (OCC) announced that it would offer a special purpose national bank charter to financial technology (fintech) companies that take deposits, provide credit, or facilitate payments—so long as they meet certain capital, liquidity, and consumer protection standards.
CGD Policy Blogs
“Private sector” appears 18 times in the outcome document from last year’s UN financing for development conference in Addis Ababa—exactly the same number of times as “international cooperation.” In part, this is driven by the financial shortfall traditional donors face in delivering this ambitious agenda, and partly it reflects the different skills our public and private sectors possess. Now, one year into the SDGs, where are those ideas that bring private sector ingenuity and capital into achieving the development goals? In this edition of the CGD Podcast, we'll introduce you to one of them.
In November 2015, CGD published a report on the unintended consequences of anti-money laundering policies for poor countries, focusing on three groups: migrant workers who send remittances to their families, vulnerable people who are displaced by conflict or natural disasters and are in need of foreign assistance, and businesses that rely on cross-border trade. Since then, the international community has made several efforts to address the problem of financial exclusion created in part by these policies.
“Private sector” appears 18 times in the outcome document from last year’s UN financing for development conference in Addis Ababa—exactly the same number of times as “international cooperation.” As we approach the first anniversary of the world signing up to the SDGs, where are the ideas that bring private sector ingenuity and capital to delivering them? In the coming weeks, we’re going to tell you about six.
CGD continued its commitment to the subject of financial inclusion with the release this March of Financial Regulations for Improving Financial Inclusion. As co-chairs of the Task Force that produced this report, we are enthused to see much alignment between the High-Level Principles of the G20 and the CGD Task Force report.
There is a lot of chatter about the reasons for Britain’s relative success in the Olympic games. This transformation in Britain’s sporting performance has generated a raft of tortured analogies with various non-sporting challenges, such as industrial and education policies (on which Britain’s performance is rather less stellar). So I’m leaping on the bandwagon with two lessons for international development.