1. Short title This Act may be cited as the Facilitating Innovation and New Technology so Entrepreneurs Create and Hire Act of 2019 or the FINTECH Act of 2019 . 2. FinTech Council (a) Establishment There is established within the Department of the Treasury the FinTech Council, which shall determine which Federal financial regulator or regulators should be the Designated Financial Regulator of an eligible FinTech startup. (b) Petition to agency (1) In general An eligible FinTech startup may submit a petition to the FinTech Council, in such form and in such manner as the Council may require, to request a determination on which Federal financial regulators have enforcement authority with respect to the eligible FinTech startup. (2) Contents In a petition submitted under this subsection, the eligible FinTech startup shall demonstrate that the eligible FinTech startup is offering or intending to offer a financial innovation that— (A) will serve the public interest; (B) improves access to financial products or services; (C) does not present systemic risk to the United States financial system; (D) is a new technology or is an innovative use of existing technology; (E) does not pose a risk to consumer protection; and (F) will not permit unfair, deceptive, or abusive acts and practices. (3) Multiparty Petitions One or more eligible FinTech startups that offer or intend to offer similar financial innovations may jointly submit a petition under this subsection. (c) Determination Upon the request of an eligible FinTech startup, the FinTech Council shall— (1) determine which one or more Federal financial regulators should be the regulators primarily responsible for oversight of the eligible FinTech startup; (2) designate such agencies as the Designated Financial Regulator of the eligible FinTech startup