FHFA announces Office of Financial Technology

The Federal Housing Finance Agency (FHFA) Monday announced the establishment of the Office of Financial Technology, which will serve as a source of information to support the FHFA in assessing risks of emerging fintechs. NAFCU has long supported innovation in the financial marketplace and a level playing field between credit unions and other non-bank entities.

The office will also assist the FHFA on the following initiatives:

• develop strategies for FHFA’s regulated entities to safely and responsibly advance housing finance fintech and innovation;
• engage with market participants, industry, nonprofits, consumer groups, and academia to share best practices around fintech and housing;

 

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