The Retail Industry Leaders Association (RILA) today welcomed the passage of three bills from the House Financial Services Committee designed to help ensure businesses access to capital in the startup phase and protect consumers from financial abuse. Austen Jensen, RILA’s vice president, government affairs issued the following statement.
“By alleviating some of the financial challenges entrepreneurs face when trying to jumpstart their businesses, these bills provide a greater platform for innovation and promote increased investment in new technology. Particularly within the payments ecosystem, we look forward to seeing the industry disruptive technology that enters the marketplace as a result of these doors opening. We’re glad to see the House taking a proactive approach to these issues and look forward to working with them to move this legislation through Congress.”
The Supporting America’s Innovators Act of 2016 (H.R. 4854) and the Fix Crowdfunding Act (H.R. 4855) were approved by the Financial Services Committee in June and passed the House by bipartisan votes on July 5.
RILA is the trade association of the world's largest and most innovative retail companies. RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs and more than 100,000 stores, manufacturing facilities and distribution centers domestically and abroad.