While building the Consumer Financial Protection Bureau, we set out to make the consumer financial marketplace more accountable – and to use data to prevent the next financial crisis. The CFPB is now releasing the complaints received from people about their financial products (credit cards, bank accounts, mortgages, student loans, credit ratings, etc). In aggregate, those complaints have power. The impact is clear – financial institutions are paying attention to the complaints they are receiving and changing how they work with their customers. This is the story of how the CFPB made it happen – and the impact open data has on the marketplace today.
Merici Vinton was one of the first employees of the Consumer Financial Protection Bureau as digital lead. She assisted the agency’s chief technology officer and its special advisor (and now Senator) Elizabeth Warren with the development of its technology and digital strategy. She oversaw the successful launch of ConsumerFinance.gov and recruited most of the original technology and digital team.
Merici is co-founder of Ada’s List, a forum for women in technology in London and globally. She now works at IDEO’s SaaS innovation platform, OI Engine, and helps awesome clients solve big challenges.