CFPB Adds Tech Expert to Advisory Panel

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The Consumer Financial Protection Bureau has turned to a technology expert for a little help.

Jim Van Dyke, the chief executive officer of Javelin Strategy & Research, has joined the bureau's 25-member consumer advisory board, the CFPB said in press release Thursday.

Van Dyke was the founder of Javelin, which specializes in emerging technology for the financial services industry. Last year he urged the CFPB to make its consumer complaint database more interactive and to integrate the data with information from other regulators.

"Consumers and industry in the U.S. need federal agencies to coordinate better, in order to realize the noble goals the CFPB set for our vital industry," Van Dyke said at the time.

On Thursday he urged financial services firms to offer input on how "we can work together" to establish policies that promote innovation.

"While regulation is often a method to prevent undesirable activities, I'm on the lookout for the next Check-21-like opportunity, so policymakers can open or hasten new innovations that help everyone win," Van Dyke said in the release.

The advisory board's members are experts in consumer protection, community development, fair lending, civil rights and banking for underserved communities.

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Comments (1)
The better news here is that the CFBP has finally invited a professional, well-respected research professional to join its CAB. Hopefully Jim Van Dyke can get the CFPB to address the growing criticisms by financial industry representatives and professional researchers that the Bureau's research and methodologies lack transparency, accountability, independence and (most importantly) objectivity.
Posted by jim_wells | Tuesday, September 02 2014 at 8:32AM ET
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