Financial Technology

Consumer Finance

Financial Technology: Protecting Consumers on the Cutting Edge of Financial Transactions

The Federal Trade Commission is committed to protecting consumers in the fast-moving realm of financial technology, also known as FinTech. Consumers today have ever greater options to store, share, and spend money with the aid of new technologies entering the market at breakneck speed. These emerging financial technologies can empower consumers by providing greater financial choices and unprecedented convenience. At the same time, market participants offering these exciting new products must keep in mind important consumer protection principles as they continue to innovate for consumers’ benefit.

The FTC continues to focus on how consumers are putting FinTech tools to use—from mobile payments to virtual currencies to crowdfunding, and more. The agency conducts workshops and writes reports examining issues related to financial technology and examining the benefits and risks to consumers. In addition, the FTC uses its authority under the FTC Act and other laws to bring law enforcement actions against companies whose deceptive or unfair actions harm consumers.

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