On April 11, the CFPB Director, Rohit Chopra, and the Commissioner for Justice and Consumer Protection of the European Commission, Didier Reynders, issued a joint statement announcing their intent to begin an informal dialogue between the CFPB and the European Commission on consumer financial protection issues. The agencies have already convened three staff-level meetings on the following topics: (1) BNPL and over-indebtedness, where the U.S. shared the FCRA framework and the European Commission discussed the differences in the BNPL industry’s evolution in their respective jurisdictions; (2) digital payment access and fraud, where they discussed fraud, the issue of nonbanks in payments, Big Tech’s involvement in consumer finance, and digital access for the unbanked; and (3) artificial intelligence, where the European Commission shared four pieces of legislation or regulations and two recent court judgments. The joint statement iterated their inputs: “Our staff have shared expertise, best practices, and lessons learned on an important set of issues. Jointly analyzing the expansion of Big Tech’s financial services offerings, and the attendant risks to consumer privacy and competition, has been highly productive.”