Presentation
From Legal Obscurity to Innovation in Consumer Credit: The Shift Towards Responsible Access through Non-Traditional Methods
Read Time: 1 minConsumer credit has proven to be the most fertile ground for innovation in lending. Evidence is growing on the benefits of alternative data and underwriting methods to increase access and lower the costs of credit for consumers. However, while some banks and FinTech companies have taken a chance on innovation, many lenders still cite regulatory constraints and other concerns as reasons for sticking to traditional credit metrics and underwriting processes.
On Wednesday, May 21, 2025, member Robert Savoie (Cleveland) will participate in the panel session “From Legal Obscurity to Innovation in Consumer Credit: The Shift Towards Responsible Access through Non-Traditional Methods,” during the National Association of Consumer Credit Administrators (NACCA) 90th Annual Meeting and Regulators’ Training Symposium.
The session will feature a candid conversation between regulators, innovators, and researchers to understand how innovative practices and processes can gain further adoption for the benefit of consumers.
NACCA was formed in 1935 to improve the supervision of consumer finance companies and to facilitate the administration of laws governing these companies. NACCA members are from 50 states, the District of Columbia, Puerto Rico, and Alberta, Canada, and its members primarily license and regulate non-depository institutions such as finance companies, mortgage companies, small loan companies, payday lenders, pawnbrokers, and other similar types of industries.