Acting Director Mulvaney Statement on Fintech Developments

WASHINGTON, D.C. – Today, Bureau of Consumer Financial Protection (Bureau) Acting Director Mick Mulvaney issued the following statement regarding actions by the Department of the Treasury and the Office of the Comptroller of the Currency to promote innovation in the financial services marketplace: “We welcome the important steps taken by our fellow agencies to promote innovation. Success will be...

WASHINGTON, D.C. – Today, Bureau of Consumer Financial Protection (Bureau) Acting Director Mick Mulvaney issued the following statement regarding actions by the Department of the Treasury and the Office of the Comptroller of the Currency to promote innovation in the financial services marketplace:

“We welcome the important steps taken by our fellow agencies to promote innovation. Success will be determined by how well U.S. regulators coordinate their efforts. We look forward to working with our State and Federal partners to ensure American global leadership in the FinTech space for years to come.”

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The Bureau of Consumer Financial Protection is a 21st century agency that helps consumer finance markets work by regularly identifying and addressing outdated, unnecessary, or unduly burdensome regulations, by making rules more effective, by consistently enforcing federal consumer financial law, and by empowering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.

Source: www.consumerfinance.gov