July 19, 2017 – U.S. Reps. Patrick McHenry (R-NC) and Gregory Meeks (D-NY) today introduced the Protecting Consumers’ Access to Credit Act of 2017, H.R. 3299, which restores consistency in lending laws across state lines. FIN supports introduction of this legislation.
The following statement is attributed to Brian Peters, Executive Director of Financial Innovation Now:
“FIN applauds U.S. Reps. McHenry and Meeks for introducing the Protecting Consumers’ Access to Credit Act of 2017. This legislation will restore consistency to the application of lending rules across state lines and ensure that certain fintech business models can continue to partner with regulated banks to expand access to credit nationwide. FIN thanks Representatives McHenry and Meeks for their ongoing leadership and efforts to advance the use of technology in financial services.”