States, consumer groups blast CFPB’s fintech protections

Source: Steven Harras, Rollcall

State attorneys general, consumer advocates, community activists, and banking regulators are criticizing proposed legal protections for banks and technology firms that develop “innovative” financial products.

The protections would come from the Consumer Financial Protection Bureau, which in December unveiled what it calls a “regulatory sandbox” that will allow firms to develop untested fintech products and services without fear of reprisals from regulators.

Read Full Article: States, consumer groups blast CFPB’s fintech protections

 

Tags/Keywords


 

Quick Menu

Support Consumer Action

Support Consumer

Join Our Email List

Optional Member Code
Facebook FTwitter T

Housing Menu

Help Desk

Advocacy