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Statement for the Record for Hearing on Fintech Innovations

January 13, 2026

NCLC, on behalf of its low-income clients, submitted a Statement for the Record in connection with the January 13, 2026 hearing on “Delivering for American Consumers: A Review of FinTech Innovations and Regulations” before the Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence of the House Committee on Financial Services. The statement emphasized that…

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Letter Opposing S.2750 (Cruz), Strengthening Artificial Intelligence Normalization and Diffusion by Oversight and eXperimentation (SANDBOX) Act

December 9, 2025

NCLC joined a letter opposing S.2750 (Cruz), Strengthening Artificial Intelligence Normalization and Diffusion by Oversight and eXperimentation (SANDBOX) Act, which would authorize the Office of Science and Technology Policy (OSTP) to grant companies waivers of federal law up to a decade to experiment with artificial intelligence products or services.

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Letter Opposing H.R. 4801 (Hill), Unleashing AI Innovation in Financial Services Act

December 10, 2025

NCLC joined a letter from 64 civil rights, consumer, community, tech accountability, and other organizations opposing H.R. 4801 (Hill) , the Unleashing AI Innovation in Financial Services Act.

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Op-Ed: Are fintech sandboxes a consumer protection desert? (The Hill)

November 28, 2018

In an op-ed appearing in The Hill on November 28, 2018, NCLC Associate Director Lauren Saunders discusses “Fintech sandboxes.” The Consumer Financial Protection Bureau (CFPB) recently proposed a disclosure sandbox, the Arizona attorney general has adopted a fintech sandbox, and both legislators and regulators in Washington are discussing ways to use sandboxes to promote financial innovation. But…

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Opposition to H.R. 7440 (McHenry) Financial Services Innovation Act of 2023

April 16, 2024

NCLC opposes the Financial Services Innovation Act of 2023, which would create regulatory “sandboxes” for companies that would force agencies to shirk their statutory duties to enforce the law and protect consumers and instead prioritize allowing risky and unproven products into the marketplace before they have been fully evaluated to ensure that they comply with…

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Fintech and Consumer Protection: A Snapshot

March 1, 2019

The use of technology in financial products and services (fintech) is resulting in a wide array of new approaches to financial products and services. The internet, mobile devices, big data, computer algorithms, and other technologies are impacting the way we borrow, make payments, and manage our money. These technologies are also changing the way that…

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CFPB to Approve Potentially Risky Fintech Products

September 10, 2019

CFPB finalizes policy that gives companies a private channel to seek approvals of untested new products and a promise that the CFPB will not take action for consumer protection law violations WASHINGTON D.C. — Consumer advocates criticized today’s announcement by the Consumer Financial Protection Bureau that it has finalized policies to give banks, fintech companies,…

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Comments on Policy on No-Action Letters and the BCFP Product Sandbox

February 11, 2019

Comments on Policy on No-Action Letters and the BCFP Product Sandbox

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Comments on OCC Innovation Pilot Program

June 14, 2019

Consumer, civil rights and privacy groups comments on the Office of the Comptroller of the Currency’s (OCC) proposed Innovation Pilot Program.

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Coalition Comments on No-Action Letters and Product Sandbox

February 11, 2019

Comments on no-action letters and product sandbox

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Consumer Protection Regulation

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