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The Congressional FinTech and Payments Caucus (CFTPC) announced Congressman Patrick McHenry (NC-10) and Congressman Randy Hultgren (IL-14) will join Congresswoman Kyrsten Sinema (AZ-09) and Congressman David Scott (GA-13) as caucus co-chairs for the 115^th Congress.

“The CFTPC has been successful in bringing members of both parties together to highlight the importance of developing new payment technologies and protecting consumer privacy and security,“ said Congresswoman Sinema.  “I look forward to working with my co-chairs and members of the CFTPC to foster innovation, protect consumers, and help small businesses thrive in the payments and fin tech space.”

“I am excited to welcome our two new co-chairs, Reps. Patrick McHenry and Randy Hultgren, who will further the bipartisan work of the CFTPC,” said Congressman Scott. “My home state of Georgia already sits at the epicenter of the payments industry with nearly two-thirds of payment card transactions passing through Georgia.   And with each passing day, FinTech is transforming how consumers receive financial services.  Expanding the mission of the CFTPC presents an exciting opportunity for the caucus to support fin tech innovation and education.”

“Fintech has tremendous potential to fundamentally change the way Americans bank, save, and borrow,” said Congressman McHenry. “As a co-chair of the CFTPC, I look forward to working across the aisle to create a regulatory environment that allows fintech to reach its true potential.”

“The financial needs of consumers are changing with rapidly advancing technology, and Americans need options in the 21st Century,” said Congressman Hultgren. “I am excited about this opportunity to work with my colleagues on identifying and promoting technology solutions to improve the way consumers make use of financial products and services.”

The Congressional FinTech and Payments Caucus is an informal group of Members dedicated to innovation, growth and education in the emerging fin tech space - the moniker given to the rapid technological innovation occurring in any number of financial services, such as payments, insurance, lending, deposits, and raising capital. The Caucus serves as a marketplace of ideas for Members and their staff to learn and better understand how fintech is revolutionizing the way consumers and businesses will receive financial services tomorrow.