California Leads in Responsible Bank-Fintech Partnerships, Promoting Financial Inclusion

Summary of Article

  • Cross River Bank and Senator Monique Limón joined forces to discuss California’s consumer lending landscape, AB539 legislation, and how responsible bank-fintech partnerships promote innovation, protect consumers, and expand access to credit.
  • Under the leadership of Governor Newsom and his Administration, California is setting up an environment where modern financial services can thrive while ensuring the highest levels of consumer protection.
  • Cross River is using technology to create access to safe and affordable financial services for unbanked and underbanked communities.

Overview

Yesterday Cross River Bank (“Cross River”), a leading technology infrastructure provider that offers embedded financial solutions, joined with California State Senator Monique Limón (D-CA), Assemblyman Tim Grayson (D-Concord), the Department of Financial Protection and Innovation (DFPI) and Tom Curran, Chief Risk and Compliance Officer at one of Cross River’s innovative partners, Upgrade. The goal was to discuss California’s consumer lending landscape, how AB539 sets the parameters for responsible lending, and how responsible bank-fintech partnership model propels innovation while protecting consumers.

California Leading the Way

Under the leadership of Senator Monique Limón and Assemblyman Tim Grayson’s direction in alignment with Governor Newsom’s priorities. California is creating an innovative environment that will allow fintech innovators to thrive by ensuring the highest levels of consumer protection.

Cross River Reshaping Global Finance

Cross River is reshaping global finance by creating access to safe and affordable financial services for historically unbanked or underbanked communities while maintaining high levels of consumer protection. By utilizing innovation in financial services Cross Rivers breaks down traditional barriers preventing access to capital in underserved communities.

Video & Photos from Eventhttps://bit.ly/3ZaLcBf

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“Thank You” from Cross River Bank