Fans and Foes of OCC True Lender Rule Spar at Senate Committee “Rent-a-Bank” Hearing
CFPB Monitor
MAY 3, 2021
Since the non-bank entity frequently is a fintech, these arrangements often are referred to as bank-fintech partnerships or marketplace lending arrangements. These speakers consistently conflated payday lending and bank-fintech partnership lending, and ignored correction of this mis-characterization by other witnesses.
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