American Banker, May 18, 2022, 5 states blazing new trails in financial services policy
As Congress remains stalled on a wide range of issues, from cannabis banking to overdraft fees, some of the action has shifted to the states, where legislative dominance by one political party often makes it easier to enact change.
In some red states, elected officials have been embracing cryptocurrency-friendly policies, though those stances may be tested if crypto prices continue to decline sharply.
Meanwhile in certain blue states, lawmakers and regulators are addressing climate risk in the banking sector and trying to improve the industry’s diversity.
