Shadow Banking/Consumer Financial Protection Event this Friday

President Obama made a push for his proposed financial reforms today, giving a speech on Wall Street. The President didn’t offer many new specifics today, but it’s clear that the Consumer Financial Protection Agency will be a hot topic in weeks to come. In addition to last year’s meltdown more than 100 million individuals in the U.S. are underbanked — they can not access or choose not to use traditional bank accounts and financial services. Instead, they use alternative financial services, such as check cashing services, small dollar loans, and other nonbank services to meet their everyday financial needs.

We expect Congress to debate this overhaul in the coming weeks, and we are hosting an event this Friday which will center on the CFPA and the challenges faced by those 100 million underbanked Americans. Peggy Twohig, the Director for Consumer Protection at the U.S. Treasury Department, will keynote the event with an address discussing the Obama Administration’s proposed Consumer Financial Protection Agency. Bill Zavarello, from House Financial Services Committee Chairman Barney Frank’s office, will also give us a bit of the Chairman’s perspective.

The event is this Friday, September 18th, from 9:30 AM until 12:30 PM. To learn more and to RSVP, please click here.