Cleveland Fed responds to P2P research criticism

Loretta Mester, president of the Federal Reserve Bank of Cleveland, has denied that the release of a controversial research paper comparing peer-to-peer (P2P) lending to the pre-crisis subprime mortgage industry was aimed at disrupting the passage of lender friendly legislation proposed by congressman Patrick McHenry.

  • By Sasha Padbidri
  • 12 Dec 2017
The vice chairman on the US House Financial Services Committee, Patrick McHenry, wrote to Mester last week, questioning the timing of the release of a controversial study on the peer-to-peer lending sector, just days before Congress was due to debate a bill aimed at allowing such lenders to ...

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