On September 30, 2015 NAR, in conjuction with CCIM, and IREM, sent a letter to the Department of Treasury in response to the Agency's Request for Information (RFI) on "Expanding Access to Credit through Online Marketplace Lending." NAR, CCIM, and IREM are prepared to work with Treasury, innovators, and other stakeholders on the development of marketplace lending. Achieving a reasonable balance between innovation and consumer protection will ensure continued safe growth of this rapidly developing financing option. As the conversation moves forward, NAR encourages regulators to consider the important issues of consumer data privacy and loan underwriting standards.
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NAR Letter to Treasury Regarding the Department's RFI on Marketplace Lending
Issue Date: September 30, 2015
On September 30, 2015 NAR, in conjuction with CCIM, and IREM, sent a letter to the Department of Treasury in response to the Agency's Request for Information (RFI) on "Expanding Access to Credit through Online Marketplace Lending." NAR, CCIM, and IREM are prepared to work with Treasury, innovators, and other stakeholders on the development of marketplace lending. Achieving a reasonable balance between innovation and consumer protection will ensure continued safe growth of this rapidly developing financing option. As the conversation moves forward, NAR encourages regulators to consider the important issues of consumer data privacy and loan underwriting standards.
Download Letter