News & Analysis as of

U.S. Treasury Online Marketplace Lending

Ballard Spahr LLP

Treasury Recommends Sweeping Regulatory Changes for Consumer Financial Services

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A report issued last week by the U.S. Treasury Department recommends sweeping regulatory changes intended to promote innovation in the consumer financial services market, reduce regulatory burdens on consumer financial...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Like a hot new underground nightclub [I presume.  Not exactly  my scene], Marcus—Goldman Sachs’ new online lending platform aimed at the consumer banking segment—requires a password. Goldman’s reportedly sending out the...more

Dechert LLP

The Evolution of Marketplace Lending

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Marketplace lending in the U.S. continues to evolve at a rapid pace as a result of legal and regulatory developments and market forces. In particular: - The Consumer Financial Protection Bureau recently ramped up its...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

CFPB Proposes Prohibition on Mandatory Consumer Arbitration Clauses - On May 5, 2016, the Consumer Financial Protection Bureau (CFPB) issued and sought comment on proposed rules prohibiting mandatory arbitration clauses...more

Orrick - Finance 20/20

U.S. Treasury Department Issues White Paper on Online Marketplace Lending Industry

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On May 10, 2016, the Department of the Treasury issued a white paper on online marketplace lending that maps the current market landscape, reviews industry insights and offers policy proposals for the road ahead. Based on...more

Goodwin

Treasury Department Weighs in on Online Marketplace Lending

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On May 10, 2016, the U.S. Treasury Department released a white paper entitled, “Opportunities and Challenges in Online Marketplace Lending.” The white paper is the result of a request for information that elicited more than...more

Ballard Spahr LLP

Treasury Releases White Paper on Online Marketplace Lending

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The U.S. Treasury Department has released a white paper addressing the online marketplace lending industry. Based in part on the responses to Treasury's July 2015 Request for Information (RFI), the white paper offers a broad...more

Morrison & Foerster LLP

Treasury Issues White Paper on Online Marketplace Lending

On May 10, 2016, the U.S. Department of the Treasury (“Treasury”) issued a white paper, entitled “Opportunities and Challenges in Online Marketplace Lending” (“White Paper”). The White Paper describes Treasury’s review of...more

Manatt, Phelps & Phillips, LLP

Treasury Issues White Paper on Marketplace Lending

On May 10, 2016, the U.S. Department of the Treasury released its highly anticipated white paper on online marketplace lending. Treasury's recommendations will likely be influential in U.S. regulation of this marketplace for...more

Ballard Spahr LLP

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

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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. ...more

Manatt, Phelps & Phillips, LLP

Treasury Discusses Online Marketplace Lending

Why it matters - Regulatory oversight of online marketplace lending is moving forward, with representatives from the Department of the Treasury sharing six "central themes" drawn from comments on the agency's Request...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

CFTC Issues Proposed Amendments to Swap Data Recordkeeping and Reporting Requirements for Cleared Swaps - On August 19, The U.S. Commodity Futures Trading Commission (CFTC) proposed amendments to existing rules relating...more

Dechert LLP

US Treasury Eyes Online Marketplace Lending

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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...more

Orrick - Finance 20/20

Treasury Extends Comment Period on Marketplace Lenders RFI

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On August 18, the Treasury Department extended the comment period for responding to the Request for Information (RFI) on marketplace lending titled “Public Input on Expanding Access to Credit through Online Marketplace...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

RMBS Suit Against WMC Mortgage LLC Dismissed as Time-Barred - On July 10, 2015, Judge Alvin Hellerstein of the Southern District of New York granted defendant WMC Mortgage LLC's motion for judgment on the pleadings in an...more

Orrick, Herrington & Sutcliffe LLP

Treasury Request for Public Input on Expanding Access to Credit through Online Marketplace Lending

On July 20, the Department of the Treasury published a Notice and Request for Information (“RFI”) seeking comment on various aspects of online marketplace lending, including – - the business models and products offered...more

Ballard Spahr LLP

Treasury Department Seeks Information on Online Marketplace Lending

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The U.S. Department of the Treasury has issued a request for information (RFI) regarding online marketplace lending. The RFI reflects the Treasury Department’s recognition that online marketplace lending “is a rapidly...more

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