Individuals have concerns about sharing data, but without access to personal information data-intensive fintechs cannot prosper, nor consumers benefit from their services. Well-designed privacy protection regulation needs to address this conflict. T his p aper s tudies h ow t he C alifornia C onsumer P rivacy A ct ( CCPA), a 2020 privacy law that grants users control over data and mitigates concerns over sharing them, affects b ank a nd fi ntech le nding in th e mo rtgage ma rket. Us ing a difference-in-differences st rategy co mparing co unties al ong th e Ca lifornia border, we establish that the CCPA increases loan applications to fintechs by significantly more than those to banks, raising fintechs’ market s hare by 1 9%. Consistent with an improved screening process due to applicants’ greater willingness to share data with fintechs, fintechs en gage in more in dividualized pr icing, deny a gr eater share of applications, and increase their use of non-traditional data. In turn, fintechs can offer s ignificantly lower lo an ra tes co mpared wi th ba nks af ter th e in troduction of the CCPA.