Fintech Innovation:The View of the CFPB - by Richard Cordray

By Richard Cordray

LendIt was honored to have Richard Cordray, director of the CFPB, speak at LendIt; in his remarks he talked about how fintech companies are driving significant interest from consumers in consumer finance and how consumer protection elements must be a part of every company’s business model from the start; the three topics he focused on during his presentation were the CFPB’s Project Catalyst, consumers having control over their personal financial data, and the benefits and risks to using unconventional sources of data to underwrite borrowers and open up access to credit.