This past week, PeerIQ attended the UST Marketplace Lending Forum in DC, which featured ~80 participants from lending platforms, funds, banks, think tanks and other service providers. Really interesting gathering that covered a host of topics—both in conference and then in break-out round tables—albeit with a clear focus on mechanisms to align interests (e.g, risk retention, reps & warranties, transparency tools). Good, considered information-sharing. We look forward to seeing everyone’s RFI responses at the end of the month.
And now, our selected articles of the week:
Lending Club Rapid Expansion Plans Undimmed (FT, Aug 4, 2015) On the heels of a great quarter, Lending Club has big plans to expand into auto loans and mortgages.
Marketplace Lenders Ban Together on Small Business Borrowers Bill of Rights (CrowdFund Insider, August 6, 2015) New bill of rights protects small business and supports transparency.
The UK is Beating the USA in the Peer-to-Peer Alternative Lending Market- Here’s Why (Business Insider, Aug 6, 2015) Partly due to a positive regulatory environment, UK has 72% more transacted lending volume compared to the U.S.
Basel IV Is the Buzzword as Europe’s Banks Brace for Costs (Bloomberg, Aug 6, 2015) Basel IV is coming, with the likely result of increased risk attributed to some assets.
“Regulation Could Be a Blessing in Disguise for Online Lenders”? (American Banker, Aug 4, 2015) Considered analysis on what regulators are (and should) be thinking about.
Facebook Has a New Patent That Will Let Lenders Look at Your Social Network to Determine Your Credit Risk (Tech Insider, Aug 5, 2015) Interesting development from the social leader, moving into the opportunity to leverage social data for heightened underwriting.