Financial Tech Association’s Act Protects Innovation in Investment, Supports Fintech Access.

The Financial Technology Association (FTA) has expressed its support for the Protecting Innovation in Investment Act, a piece of legislation introduced by Senators Ted Cruz and Bill Hagerty. The bill aims to prevent the Securities and Exchange Commission (SEC) from implementing a proposed rule that could hinder the use of predictive data analytics in financial services. The FTA argues that this rule could impede the progress made in using fintech tools to help Americans invest and build wealth. Numerous other organizations, such as the American Council of Life Insurers and the U.S. Chamber of Commerce, have also voiced their support for the legislation.