The new Consumer Financial Protection Bureau Director, Kathy Kraninger, spoke in Washington on Thursday at a hearing held by the House Financial Services Committee; she said that her agency would be taking a more collaborative approach to consumer protection, working with financial firms and building on the policies of her predecessor, Mick Mulvaney; Director Kraninger said, “I am starting to think around a philosophy of focusing on the prevention of harm. We have tremendous tools and power to drive to that end. There are certainly institutions that are also motivated to support their customers and consumers to prevent harm.” Source.
Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.