[Editor’s note: We missed several responses to the Treasury in our original post and decided to post them all here sorted into two categories and listed by company name. Clicking on a link will direct you to directly to the response.]
Last Wednesday was the official deadline of the Treasury’s request for information on marketplace lending. There were officially 104 responses to the RFI from a large variety of individuals and companies. We submitted and posted our answers to the 14 questions posed by the Treasury. Many other companies participated and a lot can be learned from their responses. Below, we have compiled a list of responses (in PDF form) from the biggest players and most influential organizations in marketplace lending.
Marketplace Lending Platform and Service Provider Responses
- Accion
- Affirm
- Avant
- Blue Elephant Capital Management
- Bond Street
- CAN Capital
- CommonBond
- Connect Lending
- Cross River Bank Marketplace Lending Coalition
- Crowdnetic
- Dealstruck
- Earnest
- eOriginal
- Fundera
- Funding Circle
- GLI Finance
- Insikt
- Intuit
- Kabbage
- Kiva
- KPMG
- Lend Academy
- Lending Club
- LendingTree
- Lendio
- LiftForward
- Manatt
- MonJa
- OnDeck
- Opportun
- Opportunity Fund
- Orchard
- PayNet
- Paypal
- PeerIQ
- Prosper
- QTX Systems
- RapidAdvance
- SoFi
- Upstart
- WebBank
- ZestFinance
Trade Associations and Individual Responses
- Alliance Partners
- Amalgamated Bank
- American Bankers Association (ABA) and the Consumer Bankers Association (CBA)
- Americans for Financial Reform
- Andrew A. Schwartz – Professor of law at the University of Colorado Law School (various documents)
- Anonymous – potential new entrant
- Association for Enterprise Opportunity (AEO)
- Banking Up
- Broadmoor Consulting LLC
- Center for Capital Markets Competitiveness (“CCMC”)
- Center for Financial Services Innovation (CFSI)
- Center for Responsible Lending (CRL)
- City of Chicago – Office of the Mayor
- Coalition for Responsible Business Finance (CRBF)
- Community Reinvestment Fund (CRF)
- Conference of State Bank Supervisors (“CSBS”) and the National Association of Consumer Credit Administrators (“NACCA”)
- Credit Union National Association
- Distributed Finance Corporation
- Duck Creek Tribal Financial
- Edward C. Yale, CFA
- Electronic Transactions Association (“ETA”)
- Elia Bassin – Borrower/Investor
- GaranteeMarket
- Global Debt Registry
- Godolphin Capital Management
- Habematolel Porno of Upper Lake
- Independent Community Bankers of America
- Individual – Community Banker
- Joe Dengpan Chen – Investor
- John Moore – Borrower
- L.D.F. Business Development Corporation (BDC)
- Milken Institute Center for Financial Markets
- Missouri Credit Union Association (MCUA)
- Mountain BizWorks
- National Association of Federal Credit Unions
- National Association of Industrial Bankers (NAIB)
- National Association of REALTORS (NAR)
- National Consumer Law Center
- National Pawnbrokers Association (“NPA”)
- Native American Financial Services Association (“NAFSA”)
- North American Securities Administrators Association
- Online Lenders Alliance
- Opportunity Finance Network (OFN)
- Otoe-Missouria Tribe of Indians
- Peer 2 Peer Financial Association (UK)
- Revenue Trades
- Securities Industry and Financial Markets Association (SIFMA)
- Small Business Majority
- Structured Finance Industry Group
- The Heritage Foundation
- The Support Center
- Thomas P. Brown Lecturer, UC Berkeley School of Law
- U.S. Public Interest Research Group (USPIRG) and the Center for Digital Democracy (CDD)
- Woodstock Institute
It was great to see such strong industry participation from the top companies in marketplace lending. It will be quite some time before the Treasury can read and synthesize these responses and it will be even longer before any possible regulatory recommendations come as a result of this new information. But at least the Treasury should now be well-informed about marketplace lending and the many different perspectives of the companies involved. If you’re interested in reading more responses submitted to the Treasury, you can find the complete list here.