In my experience this is not representative of most fintechs. Of course there are both cases of real intentional noncompliance, and accidental, but by and large it seems like everyone’s trying to innovate within the law.

This makes sense because these companies want to become large companies and contract with large companies. Large companies, by and large, try to follow the law (while trying to bend it to the limit) because they're aware they have a big target on their back and no CEO wants to be on the front page of the papers for tanking a company in such a stupid fashion.