Fintech Cos. Should Help Create Consumer Data Regulations

By Katherine Flocken (April 1, 2019, 1:36 PM EDT) -- The 116th Congress may well be the one that will regulate fintech — and fintech companies need to be ready if they want to survive and thrive. Due to the sector's growth, as well as the rising controversy around regulation of the tech industry as a whole, especially about use of consumer data, Congress has recognized that it needs to act. Stakeholders must participate in the legislating process to ensure the production of regulatory guidelines will evolve with technology rather than rigid rules that suffocate innovation and quickly become obsolete.

What to allow and prevent in data use is a daunting...

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