On June 25, DFI Director Charlie Clark testified before the U.S. House Financial Services Committee’s Task Force on Fintech Regulation.
In his testimony, Charlie emphasized that state regulators continue to play a critical role in protecting consumers in the fintech environment, and Washington State, in particular, is a leader in the field.
“State regulators are locally accountable, sitting in close proximity to consumers and the communities they are charged with protecting. This perspective makes us uniquely situated to recognize and act upon consumer financial protection issues. When consumers have an issue, they contact us first. Our goal is to help prevent consumer harm before it happens.”