ETA Applauds Office of the Comptroller’s Support of FinTech Innovation

March 31, 2016 -ETA statement on the Office of the Comptroller of the Currency’s recent white paper “Supporting Responsible Innovation in the Federal Banking System: An OCC Perspective”.

“ETA commends the Office of the Comptroller of the Currency for its white paper outlining principles to advance fintech innovation. The OCC’s approach seeks to balance new entrants and legacy regulations to protect consumers and promote innovation.  ETA member companies embody financial services innovation, revolutionizing commerce with safe, convenient, and rewarding payments and commerce solutions. Regulatory uncertainty chills innovation, so a regulatory structure that supports innovation will benefit consumers, merchants and financial services firms. We look forward to working with the OCC on this collaborative approach at the intersection of traditional banking and innovations in fintech.”

About ETA
The Electronic Transactions Association (ETA) is the global trade association representing more than 550 payments and technology companies. ETA members make commerce possible by processing more than $5 trillion in purchases in the U.S. and deploying payments innovations to merchants and consumers. For more information visit www.electran.org.