To the Editor:

Readers of your May 10 article "Citi Tech Chief Urges Regulators to Let On-Line Banking Develop" do not have an accurate report of what was said. In particular, the article fails to differentiate the potential impact of on-line banking experiments by banks, which are regulated, and nonbanks, which are not.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.