Biden win creates new headwinds for fintech, mortgages

By Jennifer Kang
10 Nov 2020

Fintechs and mortgage lenders are eyeing the incoming administration with trepidation, as president-elect Joe Biden is likely to switch out the leadership of key agencies. While there won’t be drastic changes coming out of Congress, the president has power to remove single agency heads without cause, following a recent decision by the Supreme Court.

Though it is common for the new president to give key positions to individuals that align with their political goals, it was previously not possible for the president to remove the head of a regulator at will.

All that changed in July, when the Supreme Court decided ...

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