Are Fintechs Getting a Regulatory Pass?

An American op-ed details how the growing fintech space poses a risk to consumers and their personal information; Dan Berger, president and CEO of the National Association of Federally-Insured Credit Unions doesn’t question the benefits of many of the offerings but believes policymakers must act to protect consumers, ensuring fintech companies are subject to the same data security standards as credit unions and banks; one of the areas of concern are third party fintech companies which aggregate numerous financial accounts; he also brings up the recent announcement from Robinhood as an example of a company misleading consumers about their account offering. Source

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