We're joined by Upstart's Nat Hoopes to explore the perspective of a leading fintech industry advocate on the prospects for national privacy legislation and related regulatory developments. Perhaps more than any other financial services sector, fintech lenders depend on data to provide enhanced products and services to consumers and businesses. The application of advanced data analytics to personal financial data has allowed fintech lenders to expand financial options for many Americans. Not surprisingly, privacy legislation at the state and federal level is of extraordinary importance to this financial industry sector. Jerry and Jody talk with Nat about the impact of a patchwork of state privacy laws, reasons why national privacy legislation is so slow in coming in the U.S. vs. quicker adoption in the EU, how to protect consumers from unfair outcomes in the use of AI, and the implications of data portability provided for in the Dodd Frank bill. Nat Hoopes, Upstart's Vice President and Head of Government Affairs, is a leading voice on financial innovation, cited frequently on public policy issues ranging from alternative data and AI in credit underwriting, fintech-bank partnerships, and innovative bank charter initiatives.
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Contact us:
Jerry Buckley | jbuckley@buckleyfirm.com
Jody Westby | westby@globalcyberrisk.com
ADCG | info@adcg.org