Last year, the U.S. Department of the Treasury (the Treasury) issued a Request for Information (RFI) that was focused on marketplace lending. Marketplace lenders took the opportunity to respond to the numerous questions posed and help regulators understand how marketplace lending can expand access to credit, while creating a strong regulatory framework. As of today, no formal report has been released by the Treasury on the comments received.
Our friends at Reed Smith recently released a brief titled, "FinTech Report: Summary of Responses to Treasury RFI on Marketplace Lending," which summarizes and breaks down the responses received on the Treasury RFI into three categories: business models, expanding access to underserved market segments, and potential changes to the financial regulatory framework. Lend Academy was one of the 104 respondents who provided thoughtful input to the Treasury. It has also provided easy links on its website to the responses from prominent marketplace lenders.
Click here to download a copy of the report.
Click here to read responses from marketplace lending platforms and service providers by Lend Academy.
Contact Daniel Figueredo at DFigueredo@bpmcpa.com or (415) 288-6284 for more information on this topic or to find out more about the services we provide to the Financial Services community.