TOPEKA, Kan. (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) recently announced a report highlighting various market developments that have the potential to produce benefits for consumers.

 

The developments come mostly from FinTech startups and traditional financial institutions, and include new products, services and trends. The report is part of Project Catalyst, which works to promote consumer-friendly innovation by making sure consumer protections are built into emerging products and services from the outset.

 

“Innovation has enormous potential to improve the financial lives of consumers,” said CFPB Director Richard Cordray. “At the same time, market developments cannot skirt the need for strong consumer protection. Through Project Catalyst and other bureau activities, we are working to expand our own knowledge and to foster a consumer financial marketplace where emerging products can be developed that are safe and beneficial for consumers.”

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Organizations in this Story

Consumer Financial Protection Bureau
1700 G St NW
Washington, DC - 20552

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