"Fintech Innovation at California's Newest Financial Regulator," Davis Wright Tremaine Webinar
The California Department of Financial Protection and Innovation (DFPI) aspires to be a "premier financial regulator and national model for consumer protection." Integral to its strategy is the Office of Financial Technology and Innovation (OFTI). The OFTI is designed to serve as a resource for fintechs, innovators, licensees, consumers, and others who seek meaningful interaction with the DFPI, whether it be related to new products, emerging risks, or other relevant topics.
The DFPI's approach is likely to influence how other state and federal regulators approach the marketplace. The goal of this discussion, moderated by DWT counsel Ashley Hutto-Schultz, was to help the financial services and payments sectors, in California and nationwide, understand the OFTI's purpose, authority, and resources available to industry. Featuring Christina Tetreault, Head of OFTI, the discussion also allowed attendees the opportunity to provide feedback about how the OFTI can help facilitate responsible innovation for Californians.