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In the Media

2020 election: What’s at stake for bank charters

Read Time: 1 min

Member Robert Savoie (Cleveland) is quoted in “2020 election: What’s at stake for bank charters” in Bank Innovation (subscription required). The article includes discussions with lawyers, academics, and think tanks about how the Trump and Biden presidential campaigns view important policies surrounding banking and fintech and what is at stake for bank charters as the election approaches.

According to Robert Savoie, an attorney at McGlinchey specializing in financial services and fintech regulation and policy, the chartering landscape won’t shift dramatically if Biden unseats Trump. “You are going to see continued interest in chartering if there’s a presidential administrative change,” Savoie said. “I don’t think you’ll see a material or more obvious change, but I do think the more roadblocks that are placed up in the chartering process — which is what happened after ‘08 and ‘09 with Dodd-Frank and you saw a dramatic chilling of the de novo bank charters — the more you’re going to see the fintech pivot away from non-depository authorities.”

Read the full article here (subscription required).

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In the Media

Election Impact: The future of the CFPB

September 9, 2020

Member Kelly Lipinski (Cleveland) is quoted in "Election Impact: The future of the CFPB" in Auto Finance News (subscription required). The article covers the creation and history of the CFPB, and the impact the 2020 presidential election may have on the agency's activities.

In the Media

2020 Election: Can a public credit reporting agency become reality?

September 3, 2020

Member Robert Savoie (Cleveland) is quoted in “2020 Election: Can a public credit reporting agency become reality?” in Bank Innovation (subscription required). The article discusses the idea that a public credit reporting agency could help underbanked consumers who often struggle to receive credit.

In the Media

Utah: The Fintech Frontier

July 17, 2020

Member Robert Savoie (Cleveland) is quoted in “Utah: The Fintech Frontier” in Bank Innovation (subscription required). The article describes tax incentives and other economic development efforts Utah is employing to attract Fintech expansion in the state. Although there are six other states that offer an industrial charter, Utah is popular because it has shown it’sMore

In the Media

What’s luring fintechs into auto lending?

July 9, 2020

Member Robert Savoie (Cleveland) was quoted in “What’s luring fintechs into auto lending?” in Auto Finance News. The article outlines various benefits that the auto finance industry offers to fintech companies, including minimal regulatory hurdles and the opportunity to diversify credit offerings.