Karen Mills, former head of the Small Business Administration, says the glut of online lenders can be a boon for entrepreneurs by helping them obtain funds quickly. But the lenders still need to be more transparent about their rates and fees, and regulations would help.

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BankThink Fintech charter should be paired with beefed-up borrower protections

Bonnie McGeer

Bonnie McGeer is the executive editor of American Banker. She oversees its monthly magazine and chairs the Most Powerful Women in Banking and Finance program.