Financial Forward: The Future of Consumer Finance & Banking
The Financial Forward podcast dives deep into the world of consumer finance, banking regulation, and financial technology. Hosted by Jim McCarthy, a founding member of the CFPB and a leading expert in financial regulation and risk management, this podcast unpacks the latest trends shaping the financial industry.
Each episode features insightful conversations with top industry leaders, breaking down credit card policies, fintech innovations, CFPB regulations, banking compliance, and financial consumer protection. Whether you're a banking executive, fintech entrepreneur, compliance officer, or consumer advocate, Financial Forward keeps you ahead of the curve.
🔹 Topics We Cover:
✅ Consumer Finance & Banking Trends
✅ CFPB Regulations & Enforcement Actions
✅ Financial Technology (FinTech) & Innovation
✅ Credit Cards, Loans, & Consumer Protection
✅ Compliance, Risk Management & AI in Finance
🔔 Subscribe now and stay informed on the future of consumer finance! Available on Apple Podcasts, Spotify, Google Podcasts, and more.
👉 Follow Jim McCarthy on LinkedIn for exclusive insights and updates!
Financial Forward: The Future of Consumer Finance & Banking
MOCAFI’s Vision for Financial Justice: Wole Coaxum on Empowering Underbanked Communities
In this episode of Financial Forward, we explore the transformative efforts of Wole Coaxum, founder of Mobility Capital Finance (MOCAFI), in tackling financial exclusion among underbanked and unbanked Americans. Motivated by events like Ferguson, Missouri, Coaxum embarked on a mission to create a digital banking platform that champions economic equity and fights racial wealth disparity.
We discuss innovative solutions like municipal ID cards, the evolving role of technology in banking, and the support provided to asylum seekers in New York. The episode covers partnerships with values-driven banks, overcoming regulatory challenges, and promoting community education and small business support. With insights into fintech-bank collaborations and ethical business practices, this conversation underscores the push towards a more inclusive and equitable financial system.
00:00 Introduction to Wole Coaxum and MOCAFI
01:59 Wole Coaxum's Early Career and Motivation
07:20 The Birth of MOCAFI and Its Mission
11:41 Challenges and Innovations in Serving the Underbanked
21:21 MOCAFI's Strategic Partnerships and Community Impact
26:31 Future Plans and Expansion Strategies
30:33 Addressing Fraud and Disputes in Financial Services
33:57 The Role of Sunrise Bank in Our Operations
36:46 Challenges and Opportunities in Small Business Lending
38:56 Scaling and Expanding Our Services
41:54 The Importance of Compliance and Consumer Protection
48:17 Reflections on Leaving JPMorgan Chase
50:43 Envisioning Ethical Financial Services
52:55 Closing Remarks and Future Outlook
More from Jim:
LinkedIn: https://www.linkedin.com/in/mccarthyhatch/
https://www.mccarthy-hatch.com/