House Backs Bill That Would Benefit Fintech Partnerships With Banks

Legislation would ensure bank loans retain original interest rate even if sold to nonbanks

WASHINGTON—The House on Wednesday approved a bill that would make the resale of high-interest loans more attractive to third-party buyers such as debt collectors—and bolster fintech firms’ partnerships with banks.

The bill passed 245-171. Nearly all Republicans voted for the measure, while Democrats were divided.

The legislation would ensure...

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