US and Canadian Fintech Lobbies Forge Cross-Border Alliance

The American Fintech Council and the Canadian Lenders Association announced a strategic partnership on Thursday to advance cross-border collaboration between the United States and Canada.

TIMING IS EVERYTHING

The partnership comes as Canada rolls out its open banking framework. In the United States, the regulatory landscape is evolving.

"As financial services continue to evolve across North America, collaboration between industry leaders is essential," said Phil Goldfeder, chief executive of the American Fintech Council. "The Canadian Lenders Association brings deep expertise in borrower-centric standards, innovative underwriting, and responsible access to credit. We are excited to partner with CLA to advance thoughtful public policy, drive sustainable growth, and reinforce strong consumer protections across our respective markets."

WHAT THE DEAL COVERS

Under the terms of the partnership, the two organizations will work together on several fronts. They will support American fintechs seeking to enter the Canadian market and Canadian institutions engaging the U.S. market. The partnership will also produce joint thought leadership, including policy papers, research briefs, and executive roundtables focused on regulatory alignment, innovation, and responsible lending practices.

The organizations plan to co-host events and forums in both countries, creating direct channels for dialogue among lenders, fintech executives, regulators, and policymakers. "This partnership creates a practical bridge between the Canadian and U.S. fintech ecosystems," said Gary Schwartz, president and chief executive of the Canadian Lenders Association. "By aligning dialogue, market access, and policy engagement, we are strengthening responsible cross-border growth for our members."

AI UNDERWRITING IN FOCUS

Both countries are refining their regulatory approaches to AI-driven underwriting.

SCALE OF THE MARKET

The American Fintech Council describes itself as the largest and most diverse trade association representing fintech companies, with more than 150 member companies and partners, while the Canadian Lenders Association is the largest finance organization in Canada, with members spanning banks, credit unions, non-bank lenders, fintechs and ecosystem partners.