FinTech Companies May Get Regulatory Relief


This week, House Republicans announced that they are preparing legislation aimed at encouraging the growth of fintech companies. The Wall Street Journal reports that the legislative package (known as the “Innovation Initiative”) will likely “[ease] restrictions for crowdfunding and [include] a new national regulatory regime for marketplace lenders.” In advocating for the legislation, Rep. Patrick McHenry (R-NC), Vice Chairman of the House Financial Services Committee, said that the current regulatory regime “force[s] fintech companies into regulatory categories that do not fit and burden[s] them with regulations that make no sense.”

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