News

August 1, 2018

Business Law Today's Spotlight Interview: Hudson Cook Partner Catherine Brennan Discusses the Fintech-Bank Partnership Model

Business Law Today's Spotlight Interview Series, produced by the American Bar Association Business Law Section, interviewed Hudson Cook Partner Catherine Brennan as a follow up to the article she wrote for businesslawtoday.org on new fintech legislation and the "Madden" and "true lender" bills currently in Congress.

Catherine discusses the model where a non-bank entity with a new technology platform partners with an FDIC-insured bank to offer various financial products to consumers. Cathy explains that the purpose of this partnership strategy is for banks to be able to offer a "clean, nationwide product" that is advantageous to consumers. She weighs in on the possibility of the two bills passing this year and their effects on the consumer financial services industry for both lenders and consumers.



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