FSIC Roundtable "Creating New Credit Options, Alternatives to Payday...Hurdles and Opportunities" 

Please join the Financial Services Innovation Coalition, FSIC on October 23, 2013 in room 121 Cannon House Office Building at 12:00 -3:00 PM for a roundtable entitled “Creating New Credit Options, Alternatives to Payday...Hurdles and Opportunities”. The purpose of this roundtable is to educate policy makers and congressional staffers about the evolving consumer credit crisis. Specifically, this roundtable is focused on bringing together financial services innovators with community groups and academics to discuss the credit crisis and the need for better solutions.

Our country is still in the grips of a major credit crisis that started five years ago.  At latest report, roughly $1.7 trillion dollars was still sitting on the sidelines, unable to find its way into the hands of borrowers.  Our mainstream financial system has not found a way to adequately incorporate many consumers, small businesses and farmers into the system.  

The discussion around consumer lending has mostly focused on ways to prevent or reign in payday lenders, as seen in the recent battle in New York State.  

Over the past year, we have been meeting with innovators, academics and community leaders who are at the forefront of developing new products and methods to close this credit gap.  These men and women are using technology to rethink the way credit is administered and expand the ranks of those who can qualify. We encourage you to join us on October the 23rd and participate in this meaningful conversation.  Please RSVP to Carrie Gibson at carrie@ivom.org.