Reps. Patrick McHenry (R-NC) and Randy Hultgren (R-IL) were appointed to the Congressional FinTech and Payments Caucus (CFTPC) this week, joining Reps. Kyrsten Sinema (D-AZ) and David Scott (D-GA) as caucus co-chairs for the 115th Congress.
“Fintech has tremendous potential to fundamentally change the way Americans bank, save, and borrow,” McHenry said. “As a co-chair of the CFTPC, I look forward to working across the aisle to create a regulatory environment that allows fintech to reach its true potential.”
Hultgren said the caucus will work to meet the evolving needs of consumers.
“I am excited about this opportunity to work with my colleagues on identifying and promoting technology solutions to improve the way consumers make use of financial products and services,” Hultgren said.
Scott welcomed the new co-chairs and the expansion of the caucus’ mission.
“My home state of Georgia already sits at the epicenter of the payments industry with nearly two-thirds of payment card transactions passing through Georgia,” Scott said. “And with each passing day, FinTech is transforming how consumers receive financial services. Expanding the mission of the CFTPC presents an exciting opportunity for the caucus to support fintech innovation and education.”
The bipartisan caucus serves as a forum for members and their staff to learn and better understand how fintech is impacting the financial services industry.
“The CFTPC has been successful in bringing members of both parties together to highlight the importance of developing new payment technologies and protecting consumer privacy and security,” Sinema said. “I look forward to working with my co-chairs and members of the CFTPC to foster innovation, protect consumers, and help small businesses thrive in the payments and fintech space.”