On July 20, 2017, the Illinois Department of Financial and Professional Regulation (IDFPR) held the first-ever regulatory office hours at Currency in Chicago. These office hours are a part of the IDFPR’s Financial Innovation Initiative – a program that aims to support FinTech businesses through regular engagement and education, while also gaining real time insight into how current laws and regulation are impacting these emerging technologies.
During these office hours, FinTech start-ups and established companies seeking to develop new ideas and technology for the market were able to openly discuss ideas and plans with the regulator. In other words, FinTech companies and the regulator were able to have a very open conversation with one another on any innovative ideas these companies had, and how these ideas would work in time with regulations and laws.
Currency was proud and excited to play host for these office hours at their space and be part of this first-of-its-kind occasion between the IDFPR and FinTech companies.