How many "Supervisory Entities" does the US finance industry have?

The open banking era is upon us, but banking basics still need to be performed as financial institutions weave through the disruption. Most financial institutions do an exceptional job of managing often-overwhelming levels of compliance requirements, and must continually navigate change, especially as new tech presents both challenges and opportunities.

Just consider;

• The U.S. has the most complicated financial regulatory structure of any developed nation with 8 national supervisory entities. And, since banks can also be state-chartered, there’s another 50 state-level regulators

• In comparison, the U.K. has 3 primary “lead” regulators including the European Banking Authority mandated by the EU

• The U.S.’ largest payments regulatory act was the Durbin Amendment, placing interchange limits on debit cards for banks with > $10 billion in assets

• The most impactful regulatory act in the EU is PSD2’s open banking mandate, expected to be in place by year-end 2019

• Only 30% of financial institutions report that PSD2’s compliance requirements were clear

• 41% of E.U. financial institutions failed to meet the March 2019 requirement to offer “developer sandboxes”