ETA Statement on the SMART Box Initiative

October 24, 2016 – The Electronic Transactions Association (ETA) supports the SMART Box initiative, which voluntarily includes disclosure of APR for small business loans.

“The ETA believes that industry-driven standards designed to benefit small business customers demonstrates a commitment to responsible innovation and industry leadership,” said Scott Talbott, SVP of government relations at ETA. “We applaud the SMART Box initiative for taking a forward thinking approach to addressing a perceived challenge in the market and advancing the depth of the public discussion.”

ETA is home to members representing major online small business lenders, and will continue to ensure that this powerful tool is available for everyone who seeks out its services.

About ETA
The Electronic Transactions Association (ETA) is the global trade association representing more than 500 payments and technology companies. ETA members make commerce possible by processing more than $5 trillion in purchases in the U.S. and deploying payments innovations to merchants and consumers. For more information, visit www.electran.org.

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