Legal Seminar, Chicago, IL

F INTECH C ONSUMER & SB I SSUES • Technology can help make financial services more accessible to underserved areas and populations • Technology can bring us closer to real-time payments; there is a role for government • Not everyone has access to or ability to use technology • Major concerns about fair lending, privacy, security • Non-bank fintech small business lenders are largely unregulated; many operate like payday for SB, with lack of disclosure, high rates, junk fees, etc. (CA SB 1235 is a first step toward TILA-like disclosure)

C ONTACT I NFORMATION :

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