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CFPB Says Innovation Can Improve Lives: Money 20/20

The CFPB looks to innovate the marketplace and financial lives of consumers.

By Roy Urrico | Updated on October 25, 2016

The CFPB released a report highlighting developments including new products, services, and trends from financial technology startups and traditional financial institutions with the potential to produce consumer benefits.

“Innovation has enormous potential to improve the financial lives of consumers,” CFPB Director Richard Cordray said at Money 20/20 in Las Vegas. “At the same time, market developments cannot skirt the need for strong consumer protection. Through Project Catalyst and other Bureau activities, we are working to expand our own knowledge and to foster a consumer financial marketplace where emerging products can be developed that are safe and beneficial for consumers.”

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Roy Urrico

Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).

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