US Treasury Eyes Online Marketplace Lending

August 24, 2015

In an interesting and unusual development, the Treasury Department has issued a notice seeking public input on the online marketplace lending business for small businesses and consumers (“Notice”), setting forth 14 questions for comment. Treasury indicates that it is interested in the potential for marketplace lending to expand access to credit to historically underserved market segments. Of particular note, Treasury looks for input on how the financial regulatory framework should evolve to support the safe growth of the industry. Treasury also invites market participants to provide input that would help it to become better informed on the impact of online marketplace lending on the broader economy. The deadline for filing comments is September 30, 2015.

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