AIR partnered with Consumer Reports and Consumer Federation of America to host a virtual convening on three hot issues in emerging consumer financial services. We gathered thought leaders from all corners of the money ecosystem to discuss consumer financial data permissioning, cryptocurrencies and new forms of lending. Is innovation bad for consumers? Academics, advocates, business leaders, and regulators spoke about the benefits of new technology and how we can create a marketplace where fair financial services predominate.
Keynote Fireside Chat
Sultan Meghji, Chief Innovation Officer, FDIC
Jo Ann Barefoot, CEO & Co-founder, AIR
Consumer Financial Data: Securing consumers’ 1033 rights
Section 1033 of the Dodd-Frank Act provides for consumer rights to access the financial information companies collect and hold about them. While data access can have real benefits for consumers, it can also pose risks if done without adequate safeguards. Join us for a conversation about how to secure these important rights!
Moderator: Jo Ann Barefoot
Panelists:
Bob Hedges, SVP Global Strategic Initiatives, Visa (Pre-panel presentation)
Kaitlin Asrow, Fintech Policy Advisor, Federal Reserve Bank of San Francisco
Jane Barratt, Chief Advocacy Officer, MX
Linda Jeng, Visiting Scholar on Fintech, Georgetown Law & Global Head of Policy, Transparent Financial Systems
Linda Jun, Senior Policy Counsel, Americans for Financial Reform Education Fund
Crypto, Exchanges, and Wallets: What’s the right approach to regulation?
Bitcoin emerged during the last financial crisis, and has been having a moment during this one. But bitcoin is just one of hundreds of cryptocurrencies. How do these digital assets fit – or not – into our current financial services systems? What is the promise of this new technology? What is the appropriate approach to insure systemic integrity and consumer protection? Experts tackle these questions and more in this session.
Moderator: Christina Tetreault, Manager of Financial Policy at Consumer Reports
Panelists:
Devron Brown, Former AI & Fintech Counsel, House Financial Services Committee
Anders Brownworth, Applied Research, Federal Reserve Bank of Boston
Matt Homer, Executive Deputy Superintendent, Research & Innovation, NY DFS
Jai Ramaswamy, Chief Risk & Compliance Officer, cLabs
Angela Walch, Professor of Law, St. Mary’s University School of Law
New Forms of Lending: Innovative funding or predatory loans?
Looking for a new way to finance your education? Or maybe trying to make a large purchase with an installment plan from an online retailer? Need to tap your paycheck early? There are new products to meet each of these desires – income share agreements, point of service loans, and early wage access. But how do these products fit in the larger lending landscape? Advocates, industry and regulators will discuss what they are doing to make these products work.
Moderator: Rachel Gittleman, Financial Services & Membership Outreach Manager, Consumer Federation of America
Panelists:
Suzanne Martindale, Senior Deputy Commissioner of Consumer Financial Protection, DFPI (Pre-panel presentation)
Chuck Bell, Programs Director, Advocacy, Consumer Reports
Margaret Liu, Senior Vice President & Deputy General Counsel, Conference of State Bank Supervisors
Lauren Saunders, Associate Director, National Consumer Law Center
Gary Stein, Chief Product & Compliance Officer, U.S., Openpay
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