Online Lenders Seeking to Boost Their Influence Under Trump
Online lending companies are seeking to exert more influence in Washington under President-elect Donald Trump and a Republican-controlled Congress, reports Bloomberg.
Lenders are joining lobbying groups working toward laws that will make it easier for them to attract new borrowers and investors as they look for ways to grow and limit future regulatory scrutiny, writes Elizabeth Dexheimer.
Among the groups she cited are the Marketplace Lending Association, consumer lenders Avant Inc. and Affirm Inc. ,as well as student lender CommonBond Inc., backed by former Citigroup Inc. Chief Executive Officer Vikram Pandit. Founding members include LendingClub Inc. and Prosper Marketplace Inc., according to the report.