Tag Archives: Peer-To-Peer Lending

Online Lenders Drawing More Scrutiny By Regulators

by James Rufus Koren, Los Angeles Times

Money grows on trees

Both the state Department of Business Oversight and the [U.S. Consumer Financial Protection Bureau] have turned their attention to so-called marketplace or peer-to-peer lenders — online firms that offer loans to consumers and small businesses, then sell those loans to investors. There are now dozens of such lenders, which use online applications and speedy underwriting systems to issue loans. … That growth has attracted the attention of consumer advocates, who are concerned about how lenders protect customer data and whether they comply with state and federal lending laws. Read More ›