Skip to content Skip to footer site map

Navigate Up
Sign In
Home
Treasury For...
AboutExpand About
Resource CenterExpand Resource Center
Empty
ServicesExpand Services
InitiativesExpand Initiatives
CareersExpand Careers
Connect with UsExpand Connect with Us

Treasury Notes

 Treasury Seeks Public Comments on Marketplace Lending

By: Antonio Weiss
7/16/2015


As we seek to make sure the benefits of our continuing economic recovery reach all Americans, it is important that more consumers and small businesses have broad access to safe and affordable credit.  That is why Treasury is releasing a Request for Information (RFI) in the Federal Register on expanding access to credit for small businesses and consumers through online marketplace lending. 
 
Online marketplace lending refers to the segment of the financial services industry that uses data-driven online platforms and investment capital to lend to consumers and small businesses.  While still a small component of the total consumer and small business lending market, it is a rapidly developing and fast-growing sector that is changing the way consumers and small businesses secure credit.  For example, research conducted by Morgan Stanley found that in less than a decade, online marketplace lending has grown to an estimated $12 billion in new loan originations in 2014.[1]  
 
In light of the growth of this segment, Treasury is interested in learning more about the business models and product offerings of online marketplace lenders; the potential for online marketplace lending to expand access to credit to historically underserved market segments; and how the financial regulatory framework should evolve to support the safe growth of this industry.  In addition to seeking public comment through the RFI, we look forward to hosting roundtables later this summer to advance our dialogue with participants and other key stakeholders in this industry.  To kick off the conversation, we invite you to please share your perspectives on online marketplace lending through the RFI. The RFI will be posted in the Federal Register tomorrow, and the public may begin submitting comments on Monday, July 20, 2015.

 

 


Posted in:  Marketplace Lending
Bookmark and Share

Treasury Facts

  • The Treasury is the oldest departmental building in Washington and at the time of its completion, it was one of the largest office buildings in the world.

Featured Video

Featured Photo

On September 23, 2016, the U.S. Department of the Treasury hosted the Freedman’s Bank Forum to discuss strategies to improve jobs, economic opport...

See more photos

Social media privacy