OCC to Host Public Forum on ‘Responsible Innovation’

The OCC today opened registration for its upcoming forum on “Supporting Responsible Innovation in the Federal Banking System,” to be held June 23 in Washington, D.C. Representatives from the banking industry and fintech sector, community and consumer groups and regulators will discuss current trends in innovation and how innovation affects risk management processes, strategic planning, financial inclusion and consumer protection.

The forum follows the recent release of a white paper in which the agency outlined its approach to addressing the rapid increase in technology in the financial services industry by banks and fintech companies. The white paper outlined several principles for “responsible innovation” that provide flexibility for banks and nonbanks to serve their customers while maintaining sound risk management and consumer protection standards.

Registration for the forum is free, but space is limited. Attendees must register by June 9.