Supervision and Enforcement of Fintech Products and Fee Models

The NC Coalition for Responsible Lending is proud to partner with organizations across the nation to work toward stronger consumer protections. In the spirit of this, we have co-signed the following letter in support.

On December 21st, 2021, the NC Coalition for Responsible Lending signed on to a letter led by our partners at the Consumer Federation of America. This letter to the Consumer Financial Protection Bureau urged them to carefully examine fintech credit products and fee models. These consumer credit products are exploding across market areas, and include products like buy now, pay later loans, income share agreements, cash advances, “fintech” overdraft or overdraft avoidance products, and earned wage access products.