The Financial Technology Association (FTA) submitted a comment letter in response to the Consumer Financial Protection Bureau’s (CFPB) outline of proposals and alternatives under consideration related to its consumer reporting rulemaking for the recent Small Business Regulatory Enforcement Fairness Act (SBREFA) panel.
FTA’s members include financial service providers that offer and use consumer report information and will be affected by rulemaking under the Fair Credit Reporting Act (FCRA). FTA works to ensure that modern regulatory frameworks recognize and foster the benefits of fintech-driven innovation to consumers.
As a result, FTA appreciates the opportunity to highlight in this letter some of the ways the proposals could significantly hinder how financial service providers can use consumer-centric innovation to serve American consumers and small businesses.
Read FTA’s full comment letter here.
ABOUT US
The Financial Technology Association (FTA) is a Washington, DC-based trade association representing industry leaders shaping the future of finance. We champion the power of technology-centered financial services and advocate for the modernization of financial regulation to support inclusion and responsible innovation.