Pew Offers Suggestions to Promote Responsible Innovation in Banking

Comment letter to Office of the Comptroller of the Currency based on research on financial institution practices and small loans

Pew Offers Suggestions to Promote Responsible Innovation in Banking

On May 31, The Pew Charitable Trusts filed the following letter with the Office of the Comptroller of the Currency (OCC), in response to the office’s request for comment regarding its efforts to foster and ensure responsible innovation in the financial sector. Pew’s history of data-driven research in consumer finance has provided a strong understanding of political, market, and consumer-focused issues that can arise when discussing and evaluating innovative products designed to make consumers—particularly the underserved—more financially secure. The letter highlights support for strong consumer protections, engagement of people who are outside the banking system, public access to data, and strategies to bring traditional financial institutions into the small-dollar lending market, as well as other areas in which our research can inform the OCC’s work to encourage and foster financial innovations that will meet consumers’ evolving needs.

America’s Overdose Crisis
America’s Overdose Crisis

America’s Overdose Crisis

Sign up for our five-email course explaining the overdose crisis in America, the state of treatment access, and ways to improve care

Sign up
Quick View

America’s Overdose Crisis

Sign up for our five-email course explaining the overdose crisis in America, the state of treatment access, and ways to improve care

Sign up
Article

37 Scientists Pioneering the Future of Biomedical Research

Quick View
Article

Biomedical researchers are at the heart of nearly every medical advancement. From cutting-edge cancer treatments to breakthrough discoveries about emerging viruses, these scientists use creativity and ingenuity to explore new horizons in human health and medicine. And for nearly 40 years, The Pew Charitable Trusts has supported more than 1,000 early-career researchers committed to this work.

Composite image of modern city network communication concept

Learn the Basics of Broadband from Our Limited Series

Sign up for our four-week email course on Broadband Basics

Quick View

How does broadband internet reach our homes, phones, and tablets? What kind of infrastructure connects us all together? What are the major barriers to broadband access for American communities?