CFPB Aims To Help Fintech Shake Up Consumer Finance

Law360, New York (October 24, 2016, 6:21 PM EDT) -- The Consumer Financial Protection Bureau on Monday said that its ongoing financial technology innovation program would look for ways for new market entrants to bring changes to how consumers access their financial data, credit reports are processed, mortgages are serviced and other ways consumers control their finances through technology.

The CFPB said that its Project Catalyst program, an initiative announced in November 2012 aimed at helping fintech firms develop new tools while complying with complex federal consumer protection laws, is working with developers in a host of fields to allow for more customer-friendly means of carrying out vital financial services....

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