Financial literacy and consumer protections are critically important regardless of whether financial services are delivered through traditional means or smartphone apps. Here too, digital delivery can expand the reach of traditional financial education systems by providing consumers with online and mobile education, just-in-time information, and interactive financial tools to evaluate their options.
Financial services providers have an affirmative obligation to deliver clear and transparent products and services and to protect the personal information and financial assets of the customers they serve. Our challenge as regulators is to ensure trust in  47  See Federal Reserve Bank of Dallas, Closing the Digital Divide: A Framework for Meeting CRA Obligations, (revised December 2016), https://www.dallasfed.org/cd/pubs/digitaldivide.aspx.