FEDERALhearing transcript

Congressional Hearing on Financial Technology (Fintech) and Consumer Options

Original title: DISRUPTER SERIES: IMPROVING CONSUMERS' FINANCIAL OPTIONS WITH FINTECH

January 1, 2018

fintech consumer protection digital commerce financial services cryptocurrency

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The Frame

What this does

This hearing served as a formal information-gathering session for Congress to evaluate potential regulatory frameworks for emerging financial technologies that affect how consumers manage money, access credit, and conduct digital transactions.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Consumers

Consumers are the primary focus of the hearing, as the discussion centers on how new financial technologies change their access to services and financial protections.

Fintech Companies

These companies are subject to potential future regulatory oversight discussed by the subcommittee.

What changed

Last recorded activity January 1, 2018.

What's next

Next step not available in the current record.

Summary

The House Subcommittee on Digital Commerce and Consumer Protection held a hearing on June 8, 2017, to examine how financial technology () impacts consumer financial options. The session included testimony from industry experts, consumer advocates, and researchers regarding the role of digital innovation in the financial sector.

Key Facts

The hearing took place on June 8, 2017, in the Rayburn House Office Building.
The session was titled 'Disrupter Series: Improving Consumers' Financial Options with Fintech'.
The hearing was conducted by the Subcommittee on Digital Commerce and Consumer Protection under the House Committee on Energy and Commerce.
Witnesses provided testimony on the intersection of consumer protection and digital financial innovation.
The record includes submitted statements from the Electronic Transactions Association, Competitive Enterprise Institute, Kaspersky Lab, and Intuit.

Frequently Asked Questions

What is the purpose of this hearing?

The hearing was held to explore how financial technology () can improve financial options for consumers and to discuss the regulatory landscape for these new technologies.

Who testified at the hearing?

Witnesses included representatives from the Center for Financial Services Innovation, Fenway Summer Ventures, Consumers Union, and Coin Center.

Why It Matters

News Coverage

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Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Early Congressional Fintech Focus

The hearing demonstrates that Congress was actively exploring the regulatory implications of fintech and cryptocurrency as early as mid-2017.

Subcommittee on Digital Commerce and Consumer Protection

Connected Entities

organizationSubcommittee on Digital Commerce and Consumer Protection“House subcommittee conducting the hearing”Map →

personRobert E. Latta“Chairman of the Subcommittee on Digital Commerce and Consumer Protection”Map →

personChristina Tetreault“Staff Attorney, Consumers Union”Map →

personJeanne M. Hogarth“Vice President, Center for Financial Services Innovation”Map →

personPeter Van Valkenburgh“Director of Research, Coin Center”Map →

personJavier Saade“Managing Director, Fenway Summer Ventures”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance40
How much this matters to a regular citizen
Controversy20
Intensity of disagreement among stakeholders
Entertainment5
Compellingness for a non-policy-wonk reader
Buzz10
Current news / social attention level

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