Profiles · Companies and entities
- Type
- Company or group
- Role
- Lobby or trade group
- Programs
- PPP
- Updated
The profile
Policy coalition of Square (Block), PayPal, Stripe and Intuit that wrote to congressional leaders on March 19, 2020 urging that non-bank lenders be allowed to disburse emergency small-business loans.
Identity & role
Financial Innovation Now is a policy coalition of large technology-payments firms (Square (Block), PayPal, Stripe and Intuit); its letter is signed by executive director Brian Peters.
The March 19, 2020 letter to Congress
On March 19, 2020, before the CARES Act passed, FIN wrote to Speaker Pelosi and Leaders McConnell, McCarthy and Schumer urging Congress to let non-bank lenders disburse emergency small-business loans, asserting its members "could rapidly disburse approximately $100 billion" to small businesses (our copy of the letter is in the archive directory linked below). Square, PayPal and Intuit were subsequently approved as non-bank PPP lenders.
Franklin Square Group, the Washington firm associated with Brian Peters, and a lobbyist of the same name are said to appear on Postmates' 2020 federal lobbying filings (Senate LDA records cited in the Postmates profile); FIN's own organisational form and tax status are not documented in the sources we have.
Sources
- FIN letter, March 19, 2020: FIN Calls on Congress to Help Small Businesses ASAP (original: financialinnovationnow.org · stored capture) (link now dead; copy taken from the Internet Archive, 4 October 2022)
- Archive: financial innovation now