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Events • September 9, 2020 

# The Evolution of Banking: The 2020 Cato Summit on Financial Regulation — Welcome and Introduction and Opening Fireside Chat: New Entrants into U.S. Banking 

Hundreds of innovative firms have now entered into payments, lending, and other consumer financial markets that banks used to dominate. These new entrants have raised the quality, lowered the cost, and expanded the reach of financial products to Americans who were previously excluded. But their growth has also raised questions about the fitness of existing regulation. Does it adequately address consumer protection and prudential concerns about these new entrants? What are the relative roles of state and federal regulators? And how can policy change best encourage entry into banking that will benefit consumers? Join us for an outstanding virtual program, featuring leading policymakers and experts, at Cato’s sixth annual Summit on Financial Regulation.

[![Creative Commons License](/build/cato_2020/images/creative-commons.svg)](http://creativecommons.org/licenses/by-nc-sa/4.0/) 
This work is licensed under a [Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License](https://creativecommons.org/licenses/by-nc-sa/4.0/). 

##### Featuring 

[![New Jennifer Schulp cropped image](/sites/cato.org/files/styles/author_picture/public/2023-03/jennifer-schulp-cropped-2.jpg?itok=kdrnmhHr)](/people/jennifer-j-schulp) 

##### [Jennifer J. Schulp](/people/jennifer-j-schulp)

Former Director of Financial Regulation Studies, Center for Monetary and Financial Alternatives, Cato Institute

##### Brian P. Brooks 

[![Media Name: diego-zuluaga-cropped.jpg](/sites/cato.org/files/styles/author_picture/public/authors/crops/diego-zuluaga-cropped.jpg?itok=s_gumjJ2)](/people/diego-zuluaga) 

##### [Diego Zuluaga](/people/diego-zuluaga)

Former Associate Director, Financial Regulation Studies, Cato Institute