ETA Statement on the Release of Treasury’s Online Marketplace Lending White Paper

The Electronic Transactions Association applauds the Treasury for proactively engaging regulators and lawmakers to promote robust and secure lending options for America’s small businesses.  Online small business lenders, in partnership with financial institutions, payments companies, and technology innovators, help small businesses grow, purchase equipment, hire employees, and strengthen our economy.   As the trade association of online small business lenders, ETA supports the Treasury’s recommendations for transparency, increased partnerships, the expansion of safe and affordable credit, and interagency coordination.  ETA will work with policymakers to ensure all regulations reflect the differences between small business access to capital and consumer lending, so that small businesses can access innovative lending products to build their future.

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.