Date: September 10, 2014
Issue: Mobile Financial Services
Filing Type: Regulatory
Description: CCMC appreciates the opportunity to submit this letter in connection with the Request for Information (“RFI”) regarding the use of mobile financial services by consumers, Docket No. CFPB-2014-0012. We are pleased that the Consumer Financial Protection Bureau (“the Bureau”) has reached out to stakeholders and interested parties as it studies mobile financial services. Digital innovation continues to be a bright spot in the American economy—and particularly in the financial services industry. This innovation is expected to reduce cost, expand access to financial services, and enhance consumer convenience. Mobile financial services is a key area in which such innovation is expected to benefit consumers in a variety of ways. The Bureau certainly stands to benefit from informed public comment on that important and wide-ranging topic.