Oxus Com

Main Menu

  • Home
  • Net present value
  • Trustee
  • International monetary system
  • Principal-Agent Theory
  • Banking

Oxus Com

Header Banner

Oxus Com

  • Home
  • Net present value
  • Trustee
  • International monetary system
  • Principal-Agent Theory
  • Banking
Trustee
Home›Trustee›New open bank trustee says ‘no possibility of appeasement’ in OBIE’s future after bullying scandal

New open bank trustee says ‘no possibility of appeasement’ in OBIE’s future after bullying scandal

By Terrie Graves
October 11, 2021
0
0
Alternative loansDigital bankSavings and investment

Charlotte Crosswell comes in with a hard line against the organization’s past failures.

Image source: Charlotte Crosswell / OBIE.

On Friday, Open Banking Administrator and President Charlotte Crosswell spoke out to “apologize sincerely” following the bullying scandal that engulfed the Open Banking Implementation Entity (OBIE) and led to the resignation of Imran Gulamhuseinwala.

Crosswell said with humility that the OBIE would be “committed to turning these learnings into effective and meaningful change” under his leadership.

The scandal was sparked by bullying allegations filed in a lawsuit last year, which led to an independent investigation led by OBIE’s non-executive director Alison White.

Earlier this month, the findings of the investigation were released, according to which the organization’s leadership had “allowed a culture of bullying and intimidation to prevail.”

Addressing the inquiry, Crosswell said: “Ms White’s observations and conclusions mean there is absolutely no room for complacency.”

“Under my leadership, we are committed to working to ensure that there is no recurrence of failures and shortcomings, historical or otherwise. Simply put, what happened was unacceptable and cannot happen again.

As we explored in our Crosswell profile last week, the new chairman and director is joining the OBIE at a precarious time, not only because of the investigation, but also because the Competition Authority and (CMA) is still deciding what role it will play in the future of open banking.

OBIE says Crosswell has been tasked with “leading the planned transition to future open banking deals” – but these future deals are still undecided.

Crosswell went on to note the uncertainty for the OBIE and the broader open banking sector, stating:

“With the CMA soon to announce the next steps towards the future governance model of open banking, we are at a key inflection point, and I hope this will give us more clarity and allow us to fully implement the type of leadership, governance and structure, alongside a united, diverse and inclusive culture, which is vital for a progressive and permanent organization.

Many hope that the CMA consultation will enable the OBIE to lead the charge into open finance and beyond; However, this decision is far from certain.

Subscribe to our newsletter

Related posts:

  1. Pitzer rescinds rejection of scholar manifesto criticizing Pitzer trustee after stress from college students
  2. ‘Not presupposed to be a political place’: why Duke modified the method for choosing younger administrators
  3. Hallsville ISD Administrators Nominate Lone Finalist Superintendent | Information
  4. Election Q&A: Collin Faculty Board of Trustees for Place 7

Categories

  • Banking
  • International monetary system
  • Net present value
  • Principal-Agent Theory
  • Trustee

Recent Posts

  • Lake Land College Welcomes New Student Advisor
  • Explained: Harvest Lending Targets and Why Co-operative Banks Want Action Against Commercial Banks for Not Meeting Them
  • CAN YOU BE AN ADMINISTRATOR FOR AGE UK ISLE OF WIGHT? – Echo of the Island
  • Glass walkway near Amravati to provide thrilling experience for adventure tourists from mid-2023 | Bombay News
  • Township of Perry. trustees get advice on sunshine law | News, Sports, Jobs

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • March 2020
  • Terms And Conditions
  • Privacy Policy