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Everyone is talking about #mobilepayments…

Category: Industry Issues
By Andrea Stritzke    No Comments

And so is PolicyWorks! I will be presenting @TMG’s 2014 Executive Summit to discuss the future of compliance as it relates to payments including mobile financial services.

So what is everyone talking about? Well, here’s a roundup:

Federal Reserve
The Federal Reserve is looking at survey data which examined consumers’ use of mobile technology to access financial services and make financial decisions.

Federal Deposit Insurance Corporation (FDIC)
The FDIC is assessing how mobile financial services can help increase financial inclusion among the unbanked and underbanked.

Consumer Financial Protection Bureau (CFPB)
The CFPB recently launched an inquiry into the opportunities and challenges associated with the use of mobile financial services, and they are also exploring how mobile technologies are impacting unbanked and underserved consumers with limited access to traditional banking systems.

National Credit Union Association (NCUA)
And last but not least, the NCUA will be holding a webinar entitled “Mobile Applications – The Next Step” on Wednesday, July 9, 2014, at 2 p.m. Eastern.

The fact that four regulators are talking about mobile financial services seems to identify this as a hot topic. So, if you’re joining us in Lake Tahoe for this year’s TMG Executive Summit, look forward to learning more about out what the regulators are saying and what your financial institution should be doing to keep up, get ahead and be compliant in the mobile financial services arena.

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Industry Issues

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