WASHINGTON – The Treasury Department will release a white paper next week outlining “research and recommendations” related to marketplace lending as a capstone to its nearly yearlong inquiry into the fast-growing industry.
The Treasury issued a
A Treasury spokesman said that the white paper is the culmination of that inquiry and that it would be released early next week.
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As regulators begin taking a harder look at marketplace lenders, questions are being raised about how fair-lending rules are being applied and what, if any, obligations those new participants might have to low- and moderate-income borrowers.
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The relevant question is no longer whether new regulations will come for the fast-growing industry, but what form they should take.
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The federal government's first broad inquiry into the fast-growing peer-to-peer loan industry raises several important questions, including whether banks will lobby for a clampdown on these lightly regulated competitors.
July 22
“After considering the public comments we received and additional input, we engaged with stakeholders and regulators to explore these themes further and develop recommendations for the safe growth of this industry,” the spokesman said. “We look forward to sharing our research and recommendations with the industry and the public and remaining engaged on innovation in consumer and small-business lending.”
Marketplace lending has increasingly drawn the attention of financial regulators. The Office of the Comptroller of the Currency recently
