NAFCU advocates for competitive equality between traditional financial institutions and fintech companies. At the same time, we have sought to empower credit unions with the tools to innovate and serve their communities better and more efficiently. However, tension sometimes exists between these objectives because credit unions and fintech companies are frequently partners.
In this white paper NAFCU charts a path forward for regulatory coordination in order to achieve an even playing field where the nuances of new business models and their systemic impact are well understood, and where consumers’ rights are respected and protected.