NAFCU encourages agencies to balance regulatory flexible with competitive equality in light of Treasury Report on Fintech
WASHINGTON, DC (July 31, 2018) — National Association of Federally-Insured Credit Unions (NAFCU) President and CEO Dan Berger today issued the following statement after the U.S. Department of Treasury issued its Report on Nonbank Financials, Fintech, and Innovation:
“How finechs operate in the financial services marketplace is a critical issue for credit unions, both now and into the future. We thank the Treasury Department for taking into consideration many of NAFCU’s policy recommendations relating to small-dollar lending, TCPA and data breach notifications. While many credit unions partner with fintechs to deliver valued products and services, we believe it to be in the best interest of agencies to balance the desire for regulatory flexibility with concern for overall marketplace stability. We support Treasury’s effort to promote financial innovation and better the lives of American consumers,” says NAFCU President and CEO Dan Berger.
The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.