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CFPB, OCC Host Virtual Innovation Office Hours JUL 02, 2020

July 02, 2020 / Source: CFPB

CFPB, OCC Host Virtual Innovation Office Hours

JUL 02, 2020

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) today announced they will host joint, virtual Innovation Office Hours, July 29-30, as part of the American Consumer Financial Innovation Network (ACFIN). Participants will have the opportunity to discuss issues that touch upon both consumer protection and prudential regulation.

Office Hours are one-on-one meetings with representatives from the OCC and CFPB Offices of Innovation to discuss financial technology (fintech), new products or services, partnering with a bank or fintech company, or other matters related to responsible innovation in financial services. Each meeting will last no longer than one hour.

Interested parties should request  a virtual office hours session by July 17, 2020, and are asked to provide information on the topic(s) they are interested in discussing with the Offices of Innovation. Specific meeting times and arrangements will be determined after the OCC and CFPB receive and accept the request.

The CFPB, along with its state partners, launched ACFIN to enhance coordination among federal and state regulators as it relates to innovation and to further objectives such as consumer access, competition, and financial inclusion. Additionally, ACFIN provides a platform for members to share information to facilitate coordination on innovation policies and programs. In addition to the CFPB and OCC, ACFIN members include the attorneys general from Alabama, Alaska, Arizona, Colorado, Georgia, Indiana, Ohio, South Carolina, Tennessee, and Utah; and state financial regulators from Florida, Georgia, Missouri, Ohio, Utah, Tennessee, and Wyoming. ACFIN membership is open to any state and federal partners interested in joining.

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The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by regularly identifying and addressing outdated, unnecessary, or unduly burdensome regulations, by making rules more effective, by consistently enforcing federal consumer financial law, and by empowering consumers to take more control over their economic lives. For more information, visit consumerfinance.gov.

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