As I reflect on the past six months as the Acting Director of Consumer Services, I can confidently say that I work with the absolute best of the best in state service. I am continually impressed by the financial, regulatory, and legal minds that I work with day-in and day-out.
In these many months, I have also had the pleasure and opportunity to meet with many stakeholder groups and licensees. I have observed that, by and large, our regulated entities and individuals are concerned with “getting it right.” That attention to detail and concern with compliance with the laws, rules, and regulations shines through each and every interaction I have with stakeholders.
As financial products and services continue to evolve, anything novel, new, or different tends to land in the Consumer Services’ portfolio of work. As we assess many of these novel issues, products, and services, our attention must turn to these emerging spaces to ensure that an even playing field exists as between regulated and unregulated entities and individuals.
As an example of this heightened interest in our work, in January I provided testimony in committees of the State Senate and the State House on various emerging issues in the lending space. Moreover, the bulk of legislative efforts this year were centered around financial products and services that are in the Consumer Services’ regulatory purview. With these emerging items, consumer harm, illegal practices, and outright fraud is of paramount concern and interest to both DFI and the public at large.
Given these emerging priorities, I am currently reassessing our existing communications to the various industry stakeholders, whether that be in the format of newsletters, webinars, or forums. I have heard from many of you, “do not get rid of any existing webinars or forums!” I can promise that the quality of communication and programming will not decline. My goal is to streamline some of these communication channels to give adequate attention our competing priorities.
Even though I am new to the Division, not much should change in the way of providing a strong level of customer service, education, and support. With that, I continue to look forward to meeting with you, whether that be 1:1 or at industry events and gatherings.
Ali Higgs