October 8, 2021 – The Financial Technology Association (FTA) welcomed Rohit Chopra to his position as Director of the U.S. Consumer Financial Protection Bureau in a letter.
The letter reads in part:
The Financial Technology Association (FTA) is pleased to congratulate you on being confirmed as Director of the U.S. Consumer Financial Protection Bureau (CFPB) and looks forward to working productively with you and the Bureau in advancing consumer interests. Throughout your career, you have been a strong advocate for consumers and promoting fairness in financial services. These same objectives serve as a north star for the FTA, and we look forward to informing and advancing key policies that expand financial opportunity, increase fairness, and empower individuals.
The Financial Technology Association (FTA) is a nonprofit trade organization that educates consumers, regulators, policymakers, and industry stakeholders on the value of technology-centered financial services and advocates for the modernization of financial regulation to support inclusion and innovation. The FTA is focused on proactively shaping tomorrow’s regulations, policy frameworks, and public understanding in order to safeguard consumers and advance the development of trusted, digital financial markets and services. Technology-driven innovation is transforming the way we offer, access, and benefit from financial services in the United States.
By using internet and mobile platforms, machine learning, automation, and other modern technologies to deliver financial products and services, financial technology (“fintech”) companies are improving efficiency and transparency, broadening equity, access and inclusion, reducing costs, and increasing choice and opportunities for consumers and businesses. Whether by way of more fair and inclusive credit underwriting approaches, unlocking the power of consumer data through a well-crafted open banking framework, or through more customer-friendly payment options, including buy-now, pay-later models, fintech is improving financial outcomes and empowering consumers.