Cleveland Fed responds to P2P research criticism

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By Sasha Padbidri
12 Dec 2017

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.

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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