CFPB Monitor News Guidance Perspectives of CFPB | Ballard Spahr Law Firm Blog

Category Archives: Marketplace Lending

Subscribe to Marketplace Lending RSS Feed

Director Cordray and Comptroller Curry speak at LendIt USA conference

Posted in Marketplace Lending, Technology

Earlier this week, we attended the LendIt USA conference in New York City, a leading annual fintech conference, at which both CFPB Director Richard Cordray and Comptroller of the Currency Thomas Curry spoke. Director Cordray began his remarks by returning to his familiar “level playing field” theme, observing that “[e]venhanded oversight of all providers” regardless of… More >

Brookings to hold Oct. 13 fintech event

Posted in Marketplace Lending, Technology

On October 13, 2016, the Brookings Institute will hold an event in Washington, D.C. titled: “How to make fintech work for all Americans.”  Speakers include industry representatives and an FDIC representative.  Brookings describes the event as “a conversation about the effects of the fintech boom, with a particular focus on how regulation and public policy… More >

Fed to host conference on financial innovation

Posted in Marketplace Lending

While the CFPB has indicated it will be monitoring FinTech innovations, it has not yet held a public event devoted to FinTech or financial innovation.  Both the FTC and OCC have already held such events this year and now the Federal Reserve’s Board of Governors has announced that it will be hosting a research and… More >

House Financial Services Committee to hold hearing on marketplace lending

Posted in Marketplace Lending

Tomorrow, July 11, the House Financial Services Committee’s  Subcommittee on Financial Institutions and Consumer Credit will hold a hearing titled: “Examining the Opportunities and Challenges with Financial Technology (“FinTech”): The Development of Online Marketplace Lending.”  According to the Committee memorandum, the hearing “will give Committee members the opportunity to assess the development of the FinTech… More >

FTC holding FinTech forum on marketplace lending

Posted in FTC, Marketplace Lending

On June 9, 2016, the FTC will host a “FinTech forum on marketplace lending,” the first in a forum series described by the FTC as “exploring emerging financial technology and its implications for consumers.”  According to the FTC, the forum “will examine the range of marketplace lending models, their potential benefits to consumers, possible consumer protection… More >

Treasury Dept. marketplace lending findings expected to be released next week

Posted in Marketplace Lending

The CFPB recently joined other federal regulators who have indicated a growing interest in marketplace lending with its announcement that it is accepting consumer complaints about loans obtained through marketplace lenders.  The U.S. Department of the Treasury had previously demonstrated its interest in marketplace lending by issuing a request for information (RFI) in July 2015…. More >

FTC to host June 9 forum on marketplace lending

Posted in FTC, Marketplace Lending

The interest of federal regulators in marketplace lending continues to grow.  In March 2016, the CFPB announced that it is taking complaints about marketplace lenders.  In July 2015, the Treasury Department issued a request for information regarding online marketplace lending and, in February 2016, the FDIC published an article highlighting the risks for banks that… More >

CFPB begins taking marketplace lending complaints and issues consumer bulletin

Posted in Marketplace Lending

The CFPB announced that it is now accepting consumer complaints about loans obtained through marketplace lenders and also issued a consumer bulletin directed at consumers who are shopping for such loans.  The CFPB’s press release contains the following description of a marketplace lender:  “A marketplace lender uses an online interface to connect consumers or businesses seeking… More >

CFPB continues to sharpen focus on small business lending

Posted in Marketplace Lending, Small Business

Evidence of CFPB interest in small business lending continues to mount.  While it was not surprising to see federal regulators attending the American Banker’s Marketplace Lending +Investment conference in New York City two weeks ago since many marketplace lenders make consumer loans, the CFPB also had several representatives attend the American Banker’s Small Business Banking… More >

CFPB confirms interest in marketplace lending

Posted in Marketplace Lending

Companies involved in marketplace lending will be quite interested in the attendee list for the American Banker’s Marketplace Lending + Investing conference taking place this week in New York City.  It indicates that 22 federal regulators plan to attend, including 4 from the CFPB. Could there be a stronger indication that federal regulators are keenly interested… More >