Crowdfund Insider interviewed Manatt’s Brian Korn, chair of the firm’s digital finance and marketplace lending practice, for an article about the subcommittee on Financial Institutions and Consumer Credit’s educational hearing on Fintech and Marketplace Lending.
“There appears to be a little friction between Congress and the CFPB as to who and what will be regulated,” Korn said. “My biggest takeaway is that it appears the committee is somewhat open-minded, and they were really there to learn. It wouldn’t be prudent to regulate the platforms that are making these decisions … the banks, they are being more passive.”
Read the article here.