142 - Consumer Protection Becomes Counterproductive But Many Regulators Fail to Notice This Trend

Consumer protection, especially in recent years and especially in Europe and the western world, has become counterproductive.  Some regulators believe that we don't need more FInTech startups because we already have enough of them and because more startups may fail and hurt consumers.   I disagree. We need more startups because many financial services are still inefficient and many problems are not solved, which means we need more innovation and more disruption. Let's talk about it.   Today's episode: [01:23] Many regulators have slowed down the approval of new applications. [02:56] The current situation in the financial sector is far from ideal. [04:37] The investment process is very difficult right now. [06:09] It is clear that we need more innovation. [07:50] Consumer protection is so important. [10:24] It's hard, but try to find a retirement service provider that is innovative and aggressive. [12:01] What should be the role of the government on consumer protection? [13:29] What is your opinion on the balance between consumer protection and regulations and personal choices?   Show links: Interested in FinTech compliance? - consider investing in the FinTech Compliance Self-Starter Package! I would love to invite you to sign up for my newsletter. If you are interested, please click here.

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