Justin Carey Steffen

Bank-FinTech Partnerships | Payments Lawyer | Crypto Counsel | Partner @BFKNLaw | FinTech Professor @NorthwesternLaw | tweets/likes ≠ advice or endorsements

[Justin Carey Steffen @FinTechAttorney]

My first official law review article is out! Deconstructing the Digital Dollar: Protecting Financial Privacy from Surveillance Capital. Thanks to @colleenklein, @pnadimi, @ammori, and all the others who inspired this work. https://t.co/4OmRoOYccl

[Kiah Lau Haslett is a bank reporter (she/her) @khaslett]

Many thanks to @FinTechAttorney and @CroweUSA's Steve Gerschoffer for their comments.
The piece also mentions two @BankDirector surveys:
2024 Risk: https://t.co/1ChcmmDVYk
2023 Technology: https://t.co/Lpri6d0zxD

[FinXTech @Fin_X_Tech]

@TeslarSoftware's Joe Ehrhardt, @CroweUSA's Clayton Mitchell, @BFKNLaw's @FintechAttorney & @khaslett discuss how banks can remain competitive & grow in today’s current environment.

[Justin Carey Steffen @FinTechAttorney]

Thrilled to have been asked to reflect on the past year of #bank-#fintech partnerships and opine on what’s to come.

If you want to read what I saw, see, and foresee, check it out. https://t.co/vudFNpN0wb

[Kiah Lau Haslett is a bank reporter (she/her) @khaslett]

.@FinTechAttorney and I dive deep into the risk regulators are identifying from complex fintech partnerships and what Fed member banks should think about as the regulator launches this formal program.

[Justin Carey Steffen @FinTechAttorney]

Webinar on investing in #AI is next Thursday. And if you can't make it for the live webinar, register anyway. You can access the recording anytime one hour after the event.

[Independent Community Bankers of America @ICBA]

The Financial Accounting Standards Board last week voted to establish new rules on accounting for crypto assets.
The new rules would apply to crypto assets that meet certain criteria. https://t.co/UYllxhV7pI

[Justin Carey Steffen @FinTechAttorney]

@khaslett I confess that I don’t know what is beach appropriate, but I can suggest a few good books:

Melanie Mitchell’s AI: A guide for Thinking Humans ( helps highlight different AI approaches and limits)

Isaacson’s Ben Franklin Bio (inventor, printer, diplomat, imo our best founder)

[Justin Carey Steffen @FinTechAttorney]

#Banks, if you have read the Interagency Guidance and wondered what to do, join us. We will talk about what the Guidance says, what it doesn’t say, and how to operationalize your third party risk management.

[Justin Carey Steffen @FinTechAttorney]

#Banks, if you have read the Interagency Guidance and wondered what to do, join us. We will talk about what the Guidance says, what it doesn’t say, and how to operationalize your third party risk management. https://t.co/gpVdXWBL6Z

[Justin Carey Steffen @FinTechAttorney]

@MelMitchell1 Strong reccomend. I think I have touted this to at least a dozen folks.

[Melanie Mitchell @MelMitchell1]

How does modern AI work, what is its history, and how does it compare with human intelligence? My book gives an in-depth, accessible guide for lay people & experts alike.

Coming in 2023: new chapters on transformers, generative AI, and AI "alignment".

https://t.co/2PurH8BLMx

[Justin Carey Steffen @FinTechAttorney]

@jasonhenrichs Just wait until your daughters come to collect…

[Justin Carey Steffen @FinTechAttorney]

@jasonhenrichs GIGO is an acronym I don’t like (too many in banking and regulatory worlds as it is), but this is one you’re going to hear a lot as more people start warming up to AI/ML

[Bill Hughes 🦊 @BillHughesDC]

I don't want to unduly worry anyone who is publishing software, BUT

did you know that OFAC just took the position that third party use of a US entity's software to process prohibited transactions constitutes a sanctions violation by that US entity?

No? Well then, LONG 🧵👇

[Justin Carey Steffen @FinTechAttorney]

This is NOT a postmortem or thread on #SVB or #Signature. What recent events reinforce, however, is that #FinTechs need to better understand banking and their #bank partners. We welcome all who want to learn to our March 23 webinar…https://t.co/W5juEu26nJ https://t.co/fUFQAvnKIR

[Justin Carey Steffen @FinTechAttorney]

This is NOT a postmortem or thread on #SVB or #Signature. What recent events reinforce, however, is that #FinTechs need to better understand banking and their #bank partners. We welcome all who want to learn to our March 23 webin…https://t.co/Qb0JzABITW https://t.co/fUFQAvnKIR

[Justin Carey Steffen @FinTechAttorney]

@NelsonMRosario https://t.co/d7qPAgblaV

[Justin Carey Steffen @FinTechAttorney]

@NelsonMRosario Adding- what many don’t always appreciate is that there is a way to spread deposits through bank networks to maximize FDIC insurance coverage. Google “excess deposit insurance”. FinTechs and tech cos need to better understand banking and their bank partners.

[Justin Carey Steffen @FinTechAttorney]

Whether it’s #partnerships or merely holding #deposits, #fintechs need to be able to identify the right #bank for them.  Our Bootcamp is NOT a post-mortem on #SVB, but recent events highlight the importance of understanding both banking and your bank.   https://t.co/d7qPAgblaV

[Justin Carey Steffen @FinTechAttorney]

@cxofficer @KDaly_Talent Thanks, Derek! We are here to spread the word on managing partnerships.