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Hultgren Named Co-Chair of Congressional FinTech and Payments Caucus

Congressman Hultgren has also been named a Co-Chair of the Congressional FinTech and Payments Caucus, an informal group of members dedicated to innovation, growth and education in the emerging fintech arena. The Caucus serves as a resource for members and their staffs to learn how fintech companies are changing the way financial services are delivered to consumers and businesses.

CBAI is keenly interested in fintechs and their impact on the community banking profession. Last week CBAI submitted a comment letter to the OCC on the Agency’s proposal to move forward with considering applications for national banking charters for fintech companies. CBAI’s believes fintechs must compete fairly with community banks and that fintechs approved for national banking charters must not have all of the advantages of being a national bank with limited requirements, regulations, and liability.

CBAI congratulated Congressman Hultgren on being named Co-Chair of the FinTech and Payments Caucus and looks forward to working with him on fintech issues as they intersect with the interests and concerns of community banks.