The Consumer Financial Protection Bureau and the Colorado Attorney General’s Office will host joint, virtual office hours as part of the American Consumer Financial Innovation Network (ACFIN) Dec. 2.
CFPB Director Kathy Kraninger and Colorado Attorney General Philip Weiser will participate in the event, which will provide innovators with the opportunity to discuss issues such as financial technology, innovative products or services, and other matters related to financial innovation with officials from the CFPB and state partners, according to a news release from the CFPB.
“The coordination between federal and state partners to promote consumer-beneficial innovation is invaluable to ensuring consumers are protected in the marketplace. Office hours hosted by ACFIN have provided the bureau and our state partners with first-hand knowledge of the issues that innovators and consumers are confronting as well as identifying potential solutions that are needed,” Kraninger said in the news release.
In 2019, the CFPB, along with 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, according to the news release.
Additionally, ACFIN provides a platform for members to share information to facilitate coordination on innovation policies and programs. ACFIN members include the Office of the Comptroller of the Currency and the attorneys general from Alabama, Arizona, Colorado, Georgia, Indiana, Ohio, South Carolina, Tennessee and Utah. State financial regulators from Alaska, Colorado, Florida, Georgia, Missouri, Ohio, Tennessee, Utah and Wyoming are part of ACFIN. ACFIN membership remains open to any state and federal partners interested in joining.
Innovators interested in meeting during the joint, virtual office hours should request a meeting and describe the topic(s) they would like to discuss during their session. Requests must be received by Nov. 23, 2020, and the participant will receive confirmation of the specific meeting time.
“Innovation in the consumer financial arena holds out the promise for cheaper, fairer, and more accessible credit and banking opportunities,” Weiser said. “The Colorado attorney general’s office is committed to fostering creative and entrepreneurial approaches in this space that offer greater access to responsible credit and are consistent with our commitment to consumer protection. We appreciate the bureau’s leadership in forming ACFIN and facilitating federal-state partnership.”
If you attend the office hours and would like to share your experience with ACA, contact our communications team at comm@acainternational.org.
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November 17, 2020 at 09:46PM
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Connect on Innovation: CFPB and Colorado Attorney General to Host Virtual Office Hours - ACA International
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