Many of the challenges for both banks and fintechs alike come from laws that are anywhere from 30 to 100 years old; Jo Ann Barefoot, CEO of the Alliance for Innovative Regulation and a former senior official Office of the Comptroller of the Currency recently shared a report from her alliance; it was produced in collaboration with Buckley LLP and delves into some of the regulations slowing innovation down; included in the report is feedback from employees in financial regulation on the challenges they face; American Banker looks at some of the obstacles highlighted in the report which include the Administrative Procedure Act, Paperwork Reduction Act, Freedom of Information Act, budgetary limits on fintech product testing and regulatory culture. American Banker