The civic record
Read. Follow. Verify.Senate Hearing on the Future of Financial Technology (Fintech)
Record date · January 1, 2017
Track this bill to get notified when it advances a stage. One tap to stop, anytime.
What This Bill Does
The Senate Committee on Banking, Housing, and Urban Affairs held a hearing on September 12, 2017, to examine how financial technology () is changing the financial system. The committee discussed the potential for innovation in areas like digital payments, , and wealth management, while also noting the recent passage of six bipartisan securities bills.
This hearing establishes the legislative focus on how new financial technologies will be regulated and integrated into the existing U.S. financial system, affecting how consumers access loans, payments, and investment services.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
Financial technology companies
These companies are the subject of regulatory review and potential future oversight discussed by the committee.
Investors
Investors are impacted by the six securities bills passed by the Senate, which aim to change investor protection standards.
Key Facts
- The Senate passed six securities bills on September 11, 2017, aimed at economic growth and investor protections.
- The hearing focused on fintech applications including marketplace lending, digital payments, digital currencies, wealth management, and insurance.
- The committee received testimony from the Government Accountability Office (GAO), S&P Global Market Intelligence, and the University of Maryland.
- Additional materials were submitted for the record by the Independent Community Bankers of America, the Electronic Privacy Information Center, and the Milken Institute Center for Financial Markets.
Frequently Asked Questions
What is fintech?
What were the six securities bills mentioned?
What else do you want to know?
News Coverage
Follow the record
Votes, people, money & the original sourceFull breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Bipartisan focus on securities deregulation
The hearing highlights a specific moment in 2017 where the Senate Banking Committee successfully moved six securities bills through the chamber with bipartisan support.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance65How much this matters to a regular citizen
- Controversy15Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz20Current news / social attention level
Publisher tools