Mobile financial services: A summary of comments from the public on opportunities, challenges, and risks for the underserved
The CFPB’s Office of Financial Empowerment issued a Request for Information (RFI) to find out more about mobile financial services and how low-income and economically vulnerable consumers are using them. This report provides a description of mobile financial services, a discussion of the opportunities and risks, and key takeaways from the comments. Read the report to find out what consumer groups, financial providers, and others are saying and doing about the opportunities and risks with mobile financial services.