Congress Should Fix Fintech Lending Model

Congress Should Fix Fintech Lending Model

The House Financial Services Committee marked up a whopping 22 bills last week. While many are noteworthy, such as ending Operation Choke Point , repealing the Fiduciary Rule , and relieving regional banks from excessive regulation, there was a particularly notable exclusion. Originally announced for markup, the Protecting Consumers’ Access to Credit Act of 2017 never made it to a vote. Yet, this is one of the most important bills Congress can pass this session, as it provides a legislative fix to a damaging U.S. Court of Appeals ruling, Madden v. Midland Funding . In Madden , the Second […]