August 19, 2015 | American Banker
Todd Baker argued in a recent op-ed in American Banker that marketplace lenders are a systemic risk and need greater regulation. While his intentions are good, his rationale is flawed. MPLs are already regulated by multiple agencies. They reduce the financial system’s leverage, provide greater financial transparency and ultimately deliver a better product to consumers and investors. In fact, the product is so much better that banks are some of the biggest buyers of MPL loans.
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