Marketplace Lenders Say Risk-Retention Rules Aren't Needed
By Evan Weinberger (October 2, 2015, 7:11 PM EDT) -- Marketplace lenders warned federal regulators that putting strict risk-retention rules on the industry could lead to lower loan volumes without adding any greater protection to investors, consumers or the broader financial system.
Some of the biggest players in the burgeoning online, peer-to-peer lending world told the U.S. Department of the Treasury that their business models, which include issuing tightly underwritten loans that in many cases are then sold off to investors, do not merit the type of risk-retention rules that lenders in the mortgage and other credit markets were hit with after the financial crisis.
"Fidelity and T. Rowe Price are...
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