Attorney Published Article
FinTech Regulation: How True Lender, Valid-When-Made, and the Fight About Usury Impact FinTech Business ModelsRead Time: 1 min
The laws governing financial technology (FinTech) services companies have continued to develop. One prominent business model utilized by FinTech companies involves partnerships with traditional depository institutions, often state-chartered, FDIC-insured community banks. In the context of this model, the non-depository FinTech companies and traditional depository institutions act together to offer consumer financial services and products. However, the regulatory response to these partnerships has varied over the years and the change in administration at the national level may have far-reaching consequences for these programs.
Robert Savoie (Cleveland) and Jaline Fenwick (Jacksonville) co-authored an article on these programs, recent regulation, and how it all impacts FinTech business models in the ABA Business Law Section’s The Business Lawyer, Volume 77, Issue 2, Spring 2022.