Political Quotes

“Mr. Speaker, I want to thank the chairman and Ranking Member Schakowsky for their work on this and their help. I rise today in support of H. Res. 835. It is a resolution adopting a national policy to promote economic growth and consumer access to financial tools through technology. I introduced this resolution with the gentleman from California (Mr. Cardenas) earlier this year to highlight the importance of supporting a growing industry at the intersection of consumer finance and technology, otherwise known as fintech. I would like to thank him for joining me to ensure that the United States is competitively positioned to leverage this next wave of technology for the economy and for consumers' benefits. Fintech is leading the charge in taking payments to the next level in terms of speed, convenience, efficiency, and accessibility, and is fundamentally changing the amount of transparency and control consumers have over their information. Fintech startups have created a surge in payment innovation, ranging from new mobile payment options to digital currencies outside of traditional government-issued currency. There are over 2,000 fintech startups, and more than a dozen that are currently valued at over $1 billion. Mobile payments revenues in 2016 are expected to surpass the $600 billion mark, and this year, 45 percent of consumers use some form of mobile payments. And with that investment comes new jobs and new opportunities.…”