paymentsregulation

At the end of 2020, PayPal won an initial victory in its lawsuit against the Consumer Financial Protection Bureau. In this episode, Brian Tate, the Innovative Payments Association’s CEO, talks about what the decision means for the payments industry. He covers the practical implications for payments companies and the potential regulatory and legislative fallout.

The ball is now in the CFPB court to make a decision whether to appeal, so this likely is only the beginning of a long saga between the industry and regulators. Policy discussions informed by the arguments may play out on a different timetable or in tandem. Either way, the decision sets the stage for a number of conversations around the future of payments regulation.

In this episode IPA CEO Brian Tate and our members talk with Brian Brooks, the Acting Comptroller of the Currency.

In a wide-ranging discussion, they talk about regulating during the COVID19 pandemic and beyond. Looking to the future, they discuss fintech charters, small dollar lending, and digital dollars.

The Comptroller also brings up the social justice issues that the country has been facing. He describes how the OCC has launched a new effort “Project REACh,” to address structural issues that affect the ability of Americans to build wealth. You can learn more here.

This is an edited version of the audio portion from the IPA’s Summer of Learning session. The IPA will be holding a ‘Day of Payments’ training day on August 19 and its first Fintech Elevator pitch event for start-ups on August 26.

Interested in becoming an IPA member and helping to shape the future of payments? Reach out today and talk to us about the benefits of joining. Go to www.ipa.org  to learn more.