ETA Statement on the Confirmation of Kathleen Kraninger
12-6-2018
Washington, D.C. – December 6, 2018 – The following can be attributed to Jason Oxman, CEO of the Electronic Transactions Association (ETA), on the confirmation of Kathleen Kraninger as the next director of the Consumer Financial Protection Bureau:
“ETA congratulates Kathy on her confirmation to be the next Director of the CFPB. We look forward to working with her as the Bureau advances competition and innovation in financial services through measured and appropriate regulation and enforcement. ETA supports a positive policy environment that encourages the development and deployment of innovative fintech services.
“While ETA supports the appointment of this Director, we continue to recommend that the Senate transform the Bureau into a multi-member commission to provide a balanced approach to regulation and enforcement that is more in keeping with other industry regulators.”
About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.