October 17, 2018 / 4:11 PM / a month ago

Fed's Brainard: new technologies can help financially vulnerable

Oct 17 (Reuters) - New technologies like machine learning and faster payment systems can helped financially vulnerable households get access to credit and avoid fees associated with conventional bank accounts, a U.S. Federal Reserve official said on Wednesday.

The Fed and other regulators should foster such innovations but also be sure consumers are protected, Fed Governor Lael Brainard said in remarks prepared for delivery to a conference on financial technologies and financial inclusion. Her remarks did not touch on monetary policy or the economic outlook. (Reporting by Ann Saphir Editing by Susan Thomas)

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