WASHINGTON, D.C. — David Hirschmann, President and CEO Center for Capital Markets Competitiveness (CCMC) issued the following statement today after the Consumer Financial Protection Bureau (CFPB) announced a series of policies today to promote innovation.
“By clarifying the regulatory rules of the road, the CFPB can enable lenders to find new and better ways to serve consumers. If responsible innovation is encouraged, consumers will benefit from more affordable, clearly disclosed choices to meet their credit needs. These overdue steps toward regulatory transparency will encourage responsible credit providers to find new and better ways to serve consumers while also making it easier for the CFPB to thwart bad actors.”
About the U.S. Chamber Center for Capital Markets Competitiveness
Since its inception in 2007, the Center for Capital Markets Competitiveness has led a bipartisan effort to modernize and strengthen the outmoded regulatory systems that have governed our capital markets. The CCMC is committed to working aggressively with the administration, Congress, and global leaders to implement reforms to strengthen the economy, restore investor confidence, and ensure well-functioning capital markets.
About the U.S. Chamber of Commerce
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.