House committee considers fix for fintech-bank uncertainty

House committee considers fix for fintech-bank uncertainty

The House Financial Services Committee will today review legislation that would clear some uncertainty around the business model of several digital lenders. Among nearly two dozen bills the committee is considering Oct. 11 is a bill that would effectively overturn the controversial ruling in Madden v. Midland . Rep. Gregory Meeks, D-N.Y., and Rep. Patrick McHenry, R-N.C., co-sponsored the legislation, and the bill appears to have broad support with "enactment likely during this Congress," according to Isaac Boltansky, a policy analyst for Compass Point Research & Trading LLC. The Senate already has companion legislation in the works under the […]

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