Elisabeth Krecke

  On July 17, the United States House of Representatives passed a bill prohibiting the Federal Reserve from creating a Central Bank Digital Currency (CBDC). Lawmakers consider the technology a threat to financial privacy and freedom, calling it incompatible with America’s fundamental democratic principles. The bill also codifies U.S. President Donald Trump’s executive order from […]

    In March 2025, the European Commission unveiled what it describes as a transformative initiative: the Savings and Investment Union (SIU). In a comprehensive document, President Ursula von der Leyen’s team outlined a plan to mobilize fresh, primarily private sources of capital to finance strategic investments across Europe. Europe’s investment shortfall The SIU can be […]

TAKE AWAY Current efforts intercept an estimated 0.1 percent of laundered money Compliance costs for financial institutions topped $274 billion in 2022 A more sophisticated approach will use the latest technologies   Money laundering needs to be combated effectively. Terrorists, illegal arms dealers, traffickers, drug cartels, corrupt politicians, kleptocratic regimes and all sorts of other […]

Fifteen years of stringent regulatory requirements and gloomy macroeconomic conditions have taken a toll on bank profitability, especially in Europe. But lately, a new wave of optimism is spreading over the global banking sector. At first glance, bankers have at least one good reason to be cheerful again. Since July 2022, the European Central Bank lifted interest […]

Following the 2008-2009 global financial crisis, policymakers unintentionally created a regulatory gap that gave nonbanks – enterprises without a banking license that are allowed to offer some banking services – a considerable competitive advantage over banks. It is a problem that is now coming back to haunt them. Fifteen years ago, all eyes were on […]