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04-29-2016, 11:15 PM #1
Regulators could transform the lending industry by 2017 Business Insider
Andrew Meola Apr 29, 2016 | 2:38 PM ET BII This story was delivered to BI Intelligence "Payments Industry Insider" subscribers. To learn more and subscribe, please click here. The lending market in the U.S. could soon change significantly. The Consumer Financial Protection Bureau (CFPB) is likely about to propose regulations on U.S. marketplace lenders, such as Lending Club and OnDeck, as soon as late 2017, reports the Wall Street Journal. This proposal would supervise "installment lenders," Read the full story
http://www.businessinsider.com/regulators-could-transform-the-lending-industry-by-2017-2016-4
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05-02-2016, 09:17 AM #2
This needs to happen in order for this industry to become institutionalized and have long term success. No doubt it will hurt many small shops and fly by nights while ultimately helping the big boys, but those with smarts will adjust and position themselves to be successful.
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05-02-2016, 05:01 PM #3
They are waiting for the new President to take office.
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05-03-2016, 01:12 AM #4
Regulators could transform the lending industry by 2017 Business Insider
Hopefully they don't put a 50 APR cap on lending and demolish our space in an instant
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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05-03-2016, 09:53 AM #5
- Join Date
- May 2014
- Posts
- 317
First ones to get in trouble should be the guys securing the loans and still charging MCA rates, just in my opinion. Regulation would weed out many of the illegitimate players in the space which will be nice. It would also allow for cheaper capital to come in thus really making this a second to banking product.
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05-03-2016, 11:26 AM #6
- Join Date
- May 2015
- Location
- FL
- Posts
- 96
there will be no new CFPB regulations under a republican president, soo....we'll see
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