Fintech Future Coalition

Regulators also need to engage with techniques, such as cash flow underwriting and alternative data, new credit models, and other technologies that hold out the promise to increase access and reduce bias in credit intermediation.” 3/3

“Regulators need to understand both human decision-making and market context in designing the right rules of the road. 2/3

Really important comments from Michael Barr, Vice Chair for Supervision at the Federal Reserve. We couldn't agree more! 1/3 federalreserve.gov/newsevents/spe… via @FederalReserve

We kicked off the year 🦾 by supporting our #communites with multiple #financialliteracy workshops. We're looking for #evenmore ways to expand #financialinclusion this year! #FinancialResponsibility #DoMOREGood Read more: bit.ly/3wRd4O4

Shocking but not surprising. This is why Fintech Future is in this fight. To level the playing field and give underserved communities equal access to the modern financial services we all need and deserve americanbanker.com/payments/news/…

Our statement on the FTX fraud: fintechfuturecoalition.org/news-resources…

We answered the call of #Congress to help #smallbusinesses survive the pandemic & now count on @SBAgov to do the right thing & differentiate between those who helped & those that didn't do enough to deter #fraud. @ypgoldfeder @AmerBanker @reosti1967 bit.ly/3iSml4V

#PPP demonstrated the power of #fintech and the strength of our business model—fintech leveled the playing field and #CrossRiver was the leader. Our success was a culmination of 12 years of preparation and #stayingaheadofthegame. @SBAgov #FutureofFinance

New Statement --> SBA’s Response to the House Select Committee on the Coronavirus Crisis Report fintechfuturecoalition.org/news-resources…

We thank Chairman Clyburn, the members of the committee, and its staff for their diligent work on this report and support any and all efforts to root out fraud, waste, and abuse in the PPP program and across the government and financial services sector. fintechfuturecoalition.org/news-resources…

NEW: Executives at ‘fintechs’ made hundreds of millions handing out PPP Covid cash, report says nbcnews.com/politics/congr… via @nbcnews

@TonyRomm @COVIDOversight Congrats on the incredible report Tony. See our statement here fintechfuturecoalition.org/news-resources…

Our statement here: fintechfuturecoalition.org/news-resources…

Today, @COVIDOversight released a report detailing how certain fintechs tasked with delivering PPP funds to struggling small businesses likely disbursed tens of billions to ineligible or fraudulent applicants, while taking in billions in fees. washingtonpost.com/business/2022/…

Join us! fintechfuturecoalition.org/get-involved

Tomorrow, the @SenateBanking Committee is holding its confirmation hearing for @FDICgov leadership, including the permanent board chair. Fintech Future wishes to work with all regulators to promote financial innovation and inclusion 🧵🔽

4/We hope that all regulators agree with these and many other studies that found Fintech filled the gap and reached communities that would have been left behind and will look at responsible fintech as a part of their economic opportunity agenda.

3/During times of crisis, including the 2008 recession and the COVID-19 pandemic, traditional financial institutions failed to reach low-income and minority communities. Fintech stepped up... washingtonpost.com/national/ppp-b…