FinTech charter should be paired with borrower protections

Something transformational is taking place in the world of online lending. Over the last several years, new fintech competitors have challenged traditional banks with innovative, customer-friendly online applications and quick loan decisions. At first bankers saw these disruptors primarily as threats, grabbing share from community banks overburdened by regulatory compliance costs. The online players were said to have an advantage, with no federal regulator to oversee them. Read more: