February 14, 2018 – Tonight the House of Representatives passed, on a bipartisan basis, the Protecting Consumers’ Access to Credit Act of 2017, H.R. 3299, which restores consistency in lending laws across state lines.
The following statement is attributed to Brian Peters, Executive Director of Financial Innovation Now:
“America’s small businesses should have easy access to safe forms of credit. Tonight’s bipartisan House vote is a strong signal that Congress supports tech and bank partnerships, and FIN applauds the leadership of Congressmen McHenry and Meeks and their colleagues in the House for their support of H.R. 3299. This legislation will restore the valid-when-made principle and maintain a well regulated option for bringing innovative capital access to underserved borrowers. FIN urges the Senate to take up this important legislation and looks forward to working with Senators Warner and Toomey towards that important goal.”