The Consumer Financial Protection Bureau and the Colorado Attorney General will be hosting virtual office hours together on December 2nd as part of the American Consumer Financial Innovation Network (ACFIN).
CFPB Director Kathy Kraninger and Colorado Attorney General Philip Weiser will attend the event, which is an opportunity for innovators to meet with representatives from the CFPB and the state on topics such as financial technology, innovative products or services, and other issues related to financial innovation to discuss partners, according to a press release from the CFPB.
“The coordination between federal and state partners to promote consumer-friendly innovations is invaluable in ensuring that consumers are protected in the marketplace. The office hours hosted by ACFIN have provided the office and our government partners with a firsthand understanding of the problems innovators and consumers are facing and identified potential solutions that are needed, “said Kraninger in the press release.
In 2019, the CFPB, along with government partners, launched ACFIN to improve coordination between federal and state regulators on innovation and other goals such as consumer access, competition and financial inclusion.
In addition, ACFIN offers members a platform for the exchange of information in order to facilitate the coordination of innovation strategies and programs. ACFIN members include the Currency Validator’s Office and attorneys general from Alabama, Arizona, Colorado, Georgia, Indiana, Ohio, South Carolina, Tennessee, and Utah. State financial regulators from Alaska, Colorado, Florida, Georgia, Missouri, Ohio, Tennessee, Utah, and Wyoming are part of ACFIN. ACFIN membership is open to all state and federal partners interested in joining.
Innovators who want to meet during shared virtual office hours should request a meeting and describe the topics they want to discuss during their meeting. Requests must be received by November 23, 2020 and the attendee will receive confirmation of the respective meeting time.
“Innovations in consumer finance promise cheaper, fairer and more accessible credit and banking options,” said Weiser. “The Colorado Attorney General is committed to promoting creative and entrepreneurial approaches in this area that provide better access to responsible credit and match our commitment to consumer protection. We appreciate the leadership role the office played in establishing ACFIN and in facilitating the federal-state partnership. “
If you would like to attend office hours and share your experience with ACA, please contact our communications team at [email protected]