There is big news on the trade association front today. The Marketplace Lending Association (MLA), the trade organization for fintech...
While small businesses have been able to access credit during the current crisis, this is not the case for many...
Small businesses are becoming more anxious by the day with the crisis showing no signs of ending in the near...
In an op-ed in American Banker the executive director of the Marketplace Lending Association, Nat Hoopes, argues that small banks...
A recent report by the Cleveland Fed on online lending has caused quite the controversy over its content; the Marketplace Lending Association said the Fed should retract the report; even TransUnion, whose data the report relied upon, took issue with how they presented the material; “We have no understanding of how the Federal Reserve Bank of Cleveland could have used our data to reach the conclusions they did,” Ezra Becker, SVP at TransUnion, said to American Banker; the Fed stated the terminology used in the report has caused confusion but have yet to retract the report. Source.
When LendingClub, Prosper and Funding Circle founded the Marketplace Lending Association (MLA) back in 2016 they knew they needed an...
Small businesses are becoming more anxious by the day with the crisis showing no signs of ending in the near...
When LendingClub’s founder and then CEO Renaud Laplanche testified before congress in December 2013 he was asked what the federal...
A week ago I wrote about the Cleveland Fed report on “p2p lending”. I use that term in quotes because...
A new bill has been introduced in Congress that would mandate the IRS to make their data available via API; the current process for lenders requires borrowers to fill out a form known as IRS 4506-T: Request for Transcript of Tax Return; Lend Academy provides additional information on the bill with thoughts from Congressman McHenry and Nat Hoopes, Executive Director of the Marketplace Lending Association. Source