WASHINGTON, D.C. – The Financial Technology Association (FTA) sent a letter to Vermont Governor Phil Scott respectfully urging him to veto House Bill 648, legislation concerning sales-based and commercial financing.
“Fintechs play an important role in providing access to capital for hundreds of small businesses in Vermont, including filling credit access gaps when no other options are available,” wrote FTA President and CEO Penny Lee. “This lending drives business growth, job creation, and the health of Main Street.”
“FTA believes it is critical for small business owners to be provided with clear information about their commercial financing products so that they can make informed decisions. We are concerned that recent amendments made to House Bill 648, with little to no opportunity for meaningful debate or consideration in either the House or Senate, include provisions that will reduce access to these important financial tools for small business.”
Read the full letter here.
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The Financial Technology Association (FTA) is a network of fintech industry leaders shaping the future of finance. We champion financial innovation and advocate for policies that expand competition, access, and opportunity.