Category Archives: Online Lending
The Perils of Success: Recent Regulatory Focus Heightens Potential For Future Risk
Two recent regulatory actions – one by the Consumer Financial Protection Bureau, the other by the California Department of Business Oversight – highlight the increased scrutiny facing marketplace lenders from a consumer protection perspective. Companies involved in the marketplace lending industry will likely face additional regulatory inquiries and heightened scrutiny throughout the remainder of 2016, as the industry’s relationship with government regulators on all levels continues to evolve. As marketplace lenders continue to generate greater interest from both consumers and traditional financial services companies, so too will these lenders face rising regulatory risks. CFPB Inquiry Earlier this month, the CFPB …
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Tagged
California, California Department of Business Oversight (DBO), Consumer Financial Protection Bureau (CFPB)
Posted in Online Lending, Regulatory Oversight
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