The following statement is attributed to Brian Peters, Executive Director of Financial Innovation Now:
Financial Innovation Now and its member companies are encouraged by the Consumer Financial Protection Bureau’s (CFPB) Project Catalyst Report, highlighting marketplace advancements in financial services. FIN applauds Director Cordray’s recent comments about the potential for innovation in financial services to greatly benefit consumers.
The CFPB has played a positive role by allowing innovation in financial services to flourish under a constructive regulatory framework. Financial Innovation Now looks forward to continuing to work with the Bureau to achieve our mutual goal of ensuring that financial technology can “operate transparently and efficiently to facilitate access and innovation.”
In particular, Financial Innovation Now is encouraged that the Bureau recognizes the importance of consumers’ ability to securely access financial information to better manage their financial lives.