Lord Turner in P2P turnaround at LendIt
Distancing himself from negative comments made in February, Lord Adair Turner told the LendIt Europe conference in London on Tuesday that peer-to-peer (P2P) lending platforms could become a “stable and secure” element of credit provision, and even help prevent credit crunches, if they remain simple and transparent.
Turner, the former chairman of the Financial Standards Authority, shocked Europe’s P2P lending industry in February when he told the BBC that losses in the growing asset class would “make the worst bankers look like absolute lending geniuses”.But on Tuesday, he told a gathering of market ...
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