Online Lenders Already in Turmoil Facing U.S. Call for Rules

  • Treasury seeks more transparency for borrowers and investors
  • White paper's release follows ouster of LendingClub's CEO

Is LendingClub a Warning on Peer-to-Peer Lending?

Marketplace lenders need to be more transparent about their business practices and some should be subject to additional oversight from U.S. regulators, according to a Treasury Department study released as the industry grapples with market turmoil and a scandal involving one of its leading firms.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.