Today, the American Fintech Council (AFC), announced that it has picked financial services leader and innovation advocate Garry Reeder to be its Chief Executive Officer (CEO). Reeder has more than two decades of experience in the public and private sector, including senior roles in the U.S. Department of the Treasury, Federal Deposit Insurance Corporation (FDIC), and recently at the Financial Health Network. Reeder helped stand up the Consumer Financial Protection Bureau (CFPB) and served as its Chief of Staff. His management, advocacy, and public policy experience will be instrumental in steering AFC’s mission to promote policies that advance responsible innovation and inclusivity within financial services. Reeder begins his new role on April 1.
“The American Fintech Council’s commitment to providing consumers with access to fair and transparent products and services enables them to provide much-needed leadership in Washington, D.C. I share their dedication to building a financial services industry that is more inclusive and diverse. I’m excited to lead this group and work alongside consumer advocates, civil rights organizations, regulators, and legislators at the state and federal level to ensure working families have opportunities to benefit from the products our members offer and push forward policies that improve the financial well-being of all Americans. I’m eager to start and look forward to this new opportunity,” said AFC Incoming CEO Garry Reeder.
“Garry is a forward-thinking and respected leader who knows that innovation, inclusivity, and competition create the conditions for a financial services marketplace that benefits consumers and providers. We are thrilled to have him join the AFC and look forward to the amazing work he will do to push the council forward,” said the AFC Executive Committee.
The appointment of Reeder to lead the AFC has drawn praise from several leaders in the financial services space. “Garry worked closely with me at the CFPB,” stated Richard Cordray, former Director of the Consumer Financial Protection Bureau. “He is a strong leader and is extremely knowledgeable about these issues.” Marla Blow, SVP, Social Impact North America, Mastercard Center for Inclusive Growth added, “I had the opportunity to collaborate with Garry in multiple roles and witnessed firsthand his dedication to financial inclusion and commitment to building a more inclusionary financial system.” She continued, “Garry’s unique blend of market understanding and mission orientation make him the ideal choice to lead the American Fintech Council and is the perfect voice to speak on behalf of responsible innovation in fintech.”
As AFC’s CEO, Reeder will play a key role in the continued formation and maturation of the Council, and he will steer its continued collaboration with government leaders, industry stakeholders, regulators, nonprofits, and community advocates. In this role, Reeder will lead the Executive Committee, which consists of leading banks and fintechs.
On March 8, the AFC established a Community Advisory Board of consumer advocacy, CDFI, and academic organizations to expand its reach in underserved communities and promote dialogue, collaboration and data sharing with government and academic researchers. Founding members of the Advisory Board include the Woodstock Institute, Capital Good Fund, Accion Opportunity Fund, and Professor Cornelius Hurley of Boston University.
Established earlier this month, the AFC now has more than 50 members across banking, lending, RegTech, wealth management, and other fintech segments, and is focused on solidifying a diverse and expansive group to shape the future of financial services.
The AFC and its members are committed to supporting American consumers as they struggle under economic hardship brought on by the COVID-19 pandemic, in addition to providing broad access to affordable and responsible services in order to create a more inclusive, equitable and resilient financial system.
Recently, the AFC has been instrumental in backing legislation in Illinois for consumers to access fair credit under reasonable and responsible terms and has been working with additional local and state legislators across the country.