Washington Report

Advocacy Updates from Washington D.C.

Department of Treasury Examines Marketplace Lending

The Department of Treasury put out a Request for Information (RFI) about marketplace lending. Marketplace lending describes practices such as online banks, peer-to-peer lending, and crowdfunding that are alternative lenders to small businesses and others. The Request focused mainly on the lenders' business practices, especially dealing with evaluating borrower creditworthiness. It is not known what the Department will do with the information gathered through the RFI process but given the exponential increase in this type of lending it makes sense that the Department would want to learn more about what those lenders are doing. 

Read NAR's letter here.  

Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.

Advertisement