In the News

Alexandra Villarreal O’Rourke Discusses CFPB Collaboration With Fintech Companies

November 8, 2017

McGuireWoods Charlotte partner Alexandra Villarreal O’Rourke, co-chair of McGuireWoods’ fintech team, participated in an Oct. 27 question-and-answer column with Let’s Talk Payments about the Consumer Financial Protection Bureau’s Project Catalyst No-Action Letter initiative to help fintech companies navigate regulatory hurdles as they develop and launch innovative products and services.

O’Rourke, former senior counsel with the CFPB’s Office of Law & Policy, noted that the goal of the project is to encourage consumer-friendly innovation and innovators’ engagement with the CFPB so that new technologies may be designed and deployed responsibly.

“Innovators can view Project Catalyst as a sounding board and not just a regulator to be afraid of,” she said. She added that she believes the No-Action Letter Program “will encourage more engagement like office hours and collaboration with the ecosystem.”

The column, titled “When Doing Nothing Is a Great Thing for FinTech – Interview With Alexandra Villarreal O’Rourke, FinTech Lawyer,” is available online.