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Responsible Innovation

On June 23, 2016, the Office of the Comptroller of the Currency (OCC) held a forum to discuss responsible innovation in the federal banking system. The forum sought input and included participants from the banking industry, financial technology companies, academia, and community and consumer groups.

The following are videos of that forum.

Opening Remarks

Introduction by Amy Friend, Former Senior Deputy Comptroller and Chief Counsel
Remarks by Thomas J. Curry, Former Comptroller of the Currency

Panel 1: Financial Innovation: The Big Picture

Innovation in the financial services industry is changing how services are delivered, products are offered, and markets operate. Hear from panelists about how the industry is responding to rapid change and where such change may lead.

  • Moderator: Amy Friend, Former Senior Deputy Comptroller and Chief Counsel, OCC
  • Panelists: Jo Ann Barefoot, Senior Fellow, Mossavar-Rahmani Center for Business and Government, John F. Kennedy School of Government, Harvard University, and Chief Executive Officer, Jo Ann Barefoot Group LLC
  • Hans Morris, Founding and Managing Partner, Nyca Partners
  • Adam Shapiro, Global Chief Control Officer, Open Platform, BBVA

Panel 2: The Business of Innovation: Opportunities and Challenges

National banks, federal savings associations, and fintech firms are seizing opportunities and meeting challenges of today's financial services landscape in different ways. Hear from panelists about how their companies are participating in responsible innovation, by incorporating it into strategic plans and adopting appropriate risk management and governance processes.

  • Moderator: Kathleen Oldenborg, Director for Payment Systems Policy, OCC
  • Panelists: John Beccia, General Counsel and Chief Compliance Officer, Circle Internet Financial
  • Charley Cooper, Managing Director, R3 CEV
  • Dana Deasy, Managing Director and Global Chief Information Officer, JPMorgan Chase Bank, N.A.
  • Nitin Mhatre, Executive Vice President, Community Banking, Webster Bank, N.A.
  • Jonathan Morris, President and Co-Owner of BMC Bancshares, holding company for Titan Bank, N.A.

Panel 3: Responsible Innovation and the Consumer

Demographic changes are influencing consumer needs and expectations. Innovation is also offering opportunities to reach underserved consumers and communities. Hear from panelists about how responsible innovation can meet these evolving, as well as long standing, consumer needs and broaden financial access.

  • Moderator: Grovetta Gardineer, Senior Deputy Comptroller for Compliance and Community Affairs, OCC
  • Panelists: Conor French, General Counsel, Funding Circle
  • David Reiling, Chief Executive Officer, Sunrise Banks
  • Lauren Saunders, Associate Director, National Consumer Law Center
  • Jennifer Tescher, President and Chief Executive Officer, Center for Financial Services Innovation

Panel 4: Building a Framework for Responsible Innovation

OCC's experts will discuss the OCC's vision for responsible innovation, and the principles that will guide the development of the OCC's framework. Panelists will identify themes from the comments the agency received on its white paper and address ideas from the forum.

  • Moderator: Bryan Hubbard, Deputy Comptroller for Public Affairs, OCC
  • Panelists: Maryann Kennedy, Deputy Comptroller for Large Bank Supervision, OCC
    Beth Knickerbocker, Counsel, Legislative and Regulatory Activities, OCC
    Kay Kowitt, Deputy Comptroller Western District, Midsize Community Bank Supervision, OCC
    John Vivian, Director for Risk Governance, Supervision Risk Management, OCC
    Barry Wides, Deputy Comptroller Community Affairs, OCC

Closing Remarks

Amy Friend, Former Senior Deputy Comptroller and Chief Counsel