Skip to main content

The Consumer Financial Protection Bureau and the Global Financial Innovation Network (GFIN)

The Consumer Financial Protection Bureau is part of the Global Financial Innovation Network (GFIN), an organization of approximately 50 regulatory agencies worldwide working together to support financial innovation in the best interests of consumers. Formally launched in January 2019, the GFIN seeks to provide a more efficient way for firms to interact with regulators as they seek to develop, execute and distribute new innovations.

The GFIN also creates a new framework for co-operation between financial services regulators on innovation-related topics as they share different experiences and approaches. The three main functions of the GFIN are to:

  • Act as a network of regulators to collaborate and share experience of innovation in respective markets, including emerging technologies and business models;
  • Provide a forum for joint policy work and discussions; and
  • Give firms an environment that allows for trials of cross-border solutions.

As part of the Global Financial Innovation Network , the CFPB, through its new Office of Innovation, coordinates with international regulators to facilitate innovation and promote regulatory best practices in consumer financial services.

The CFPB now participates in GFIN’s cross-border testing workstream, which helps firms simultaneously trial and scale new technologies in multiple jurisdictions. GFIN receives cross-border testing applications on a cohort basis. Please contact OfficeofInnovation@cfpb.gov for information on the next application window.

Full list of GFIN Membership

Coordination Group

Organisation

Jurisdiction

Australian Securities & Investments Commission (ASIC)

Australia

Central Bank of Bahrain (CBB)

Bahrain

Autorité des marchés financiers (AMF)

Québec, Canada

Guernsey Financial Services Commission (GFSC)

Guernsey

Hong Kong Monetary Authority (HKMA)

Hong Kong

Hong Kong Securities and Futures Commission (HKSFC)

Hong Kong

Astana Financial Services Authority (AFSA)

Kazakhstan

Monetary Authority of Singapore (MAS)
Singapore
Dubai Financial Services Authority (DFSA)
UAE
Financial Conduct Authority (FCA)
United Kingdom
Consumer Financial Protection Bureau (CFPB)
United States

Members

Organisation

Jurisdiction

Securities Commission of the Bahamas (SCB)
Bahamas
Bermuda Monetary Authority (BMA)
Bermuda
Securities and Exchange Commission of Brazil (CVM)
Brazil
Alberta Securities Commission (ASC)
Alberta, Canada
British Columbia Securities Commission (BCSC)
British Columbia, Canada
Financial Services Regulatory Authority of Ontario (FSRA Ontario)
Ontario, Canada
Ontario Securities Commission (OSC)
Ontario, Canada
Financial Superintendence of Colombia (SFC Colombia)
Colombia
Centrale Bank van Curaçao and Sint Maarten
Curaçao and Sint Maarten
Central Bank of Eswatini
Eswatini (Swaziland)
National Bank of Georgia (NBG)
Georgia
Gibraltar Financial Services Commission
Gibraltar
Hong Kong Insurance Authority (IA)
Hong Kong
Magyar Nemzeti Bank (Central Bank of Hungary)
Hungary
Isle of Man Financial Services Authority (IOMFSA)
Isle of Man
Capital Market, Insurance, and Savings Authority (CMISA)
Israel
Israel Securities Authority (ISA)
Israel
Jersey Financial Services Commission (JFSC)
Jersey
Capital Markets Authority (CMA, Kenya)
Kenya
Bank of Lithuania (BL)
Lithuania
Commission de Surveillance du Secteur Financier (CSSF)
Luxembourg
Financial Services Commission Mauritius (FSC)
Mauritius
Comision Nacional Bancaria y de Valores (National Banking and Securities Commission) (CNBV)
Mexico
Securities and Exchange Commission (SEC Nigeria)
Nigeria
Seychelles Financial Services Authority
Seychelles
South African Reserve Bank (SARB)
South Africa
Financial Supervisory Commission Taiwan
Taiwan
Abu Dhabi Global Market (ADGM)
UAE
Securities and Commodities Authority, UAE (ESCA)
UAE
Central Bank of the UAE
UAE
Commodity Futures Trading Commission (CFTC)
United States
Federal Reserve Board (FRB)
United States
Federal Deposit Insurance Corporation (FDIC)
United States
Financial Industry Regulatory Authority (FINRA)
United States
Office of the Comptroller of the Currency (OCC)
United States
Securities and Exchange Commission (SEC)
United States
Office of the Arizona Attorney General
State of Arizona, United States
New York State Department of Financial Services (NY DFS)
State of New York, United States
Wyoming Division of Banking
Wyoming, United States

Observers

Organisation
Country
Financial Sector Deepening Africa (FSD Africa)
Africa
Qianhai Financial Authority
China
European Bank for Reconstruction and Development (EBRD)
Europe
Consultative Group to Assist the Poor (CGAP)
Global
International Monetary Fund (IMF)
Global
World Bank Group
Global
Qatar Development Bank
Qatar