Financial reform is an uncertain topic for the fintech industry; Digiday talked with attendees at LendIt USA about their thoughts on the Trump administration's proposed regulatory reform; generally, participants reported that they believe the reform could increase interest from banks in partnering with fintech companies since deregulation gives them more flexibility for credit product expansion. Source
The Community Reinvestment Act is a law that was first enacted in 1977; The Trump Administration is going to unveil plans to change the law which has some community groups concerned since the act historically prevented banks from just serving wealthy customers; some banks say that the rules haven’t kept up with technological innovation. Source