According to Lending Club CEO , Renaud pricing , marketplace ( or P2P ) lending is regulated responsibly , despite many reports to the contrary . Laplanche argued that regulatory oversight means that the loans his firm , and others like it , make are subject to a number of regulations , with some banks even being subject to exactly the same regulations as those offered by banks . he stated that increasing transparency in the market is a good strategy , because “ more oversight will only increase the level of trust that we are generating with customers and investors , ” and that detractors of such regulations are forgetting the positive impact they have , such as encouraging business innovation , making credit more widely available , and making transactions more consumer friendly .
According to Lending Club CEO, Renaud Laplanche, marketplace (or P2P) lending is growing responsibly, despite many reports to the contrary. Laplanche argued that regulatory oversight means that the loans his firm, and others like it, make are subject to a number of regulations, with some loans even being subject to exactly the same regulations as those offered by banks. Laplanche stated that increasing regulation in the market is a good thing, because “more oversight will only increase the level of trust that we are generating with customers and investors,” and that detractors of such platforms are forgetting the positive impact they have, such as encouraging business innovation, making credit more widely available, and making transactions more consumer friendly.