ETA Submits Response to Treasury RFI on Marketplace Lending
September 30, 2015
The Electronic Transactions Association (“ETA”) hereby submits this information in response to the Treasury Department’s Request For Information (“RFI”) on online marketplace lending. ETA is the leading trade association for the payments industry, representing over 500 companies that offer electronic transaction processing products and services, including financial institutions, transaction processors, payments networks and others. ETA has members that are engaged in online marketplace lending for commercial enterprises, primarily small businesses, either directly or in partnership with other lenders, and is pleased to have this opportunity to provide feedback to the Department on its requests for information. Although marketplace lenders facilitate the extension of many different types of credit, including loans to consumers, loans to small businesses, merchant cash advances and payday loans, ETA’s comments are limited to online marketplace lending in the small business/commercial context.