DC zones in on alternative loan products

By Matthew Scully
27 Mar 2014

Installment and peer-to-peer lenders active in the securitization space, such as Springleaf Financial, Progreso Financiero and Social Finance, are watching Washington closely this week for indications of how much support — or scrutiny — to expect from policymakers, as federal agencies and politicians weigh in on the alternative loan debate.

The Consumer Financial Protection Bureau released its latest report on payday loans yesterday, and top Senate Democrats are inviting testimonies on alternative loan products, which have seen a rise in popularity since the financial crisis.

“We are expecting later this year for the CFPB to announce a rule ...

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