Future Finance
Lawmakers Offer Help to Japanese Banks Battling Fintech Firms
- LDP panel aims to ease rules on businesses banks can enter
- Previous deregulation focused on letting tech firms do banking
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Japanese ruling-party lawmakers are looking to make it easier for banks to expand into different industries, a step that could help traditional lenders push back against tech rivals.
The Liberal Democratic Party’s financial policy research panel wants to amend the banking law next year to relax limits on lenders’ lines of business as well as their investments in non-financial firms. The proposal, released last week, didn’t specify which areas banks might be allowed to enter.