But on the other side there is already concern that if left unchecked small business lending could become the next subprime lending crisis. Traditional players such as community banks are weighing into the debate as well fearing that stronger regulatory oversight in the wake of the recession is leaving them less competitive relative to new entrants that have to date operated in largely unregulated markets.
The issues of transparency and disclosure are the most important considerations facing regulators and can be broken down into several key questions. Are online lenders accurately and transparently disclosing terms of their loans to small business borrowers How much information should online lenders Chinese Overseas America Number Data be disclosing to regulators and policymakers And should there be greater standardization transparency or regulation of online loan brokers Additionally there is the question of oversight and monitoring. Currently the SEC partially regulates peer to peer lending and state banking laws apply but the online small business lending sector is largely unregulated at the federal level. Should borrower and lender protections be consolidated under a single federal regulator and if so which regulator is best equipped to perform this role Reason For Optimism.
The financial crisis significantly changed the lending landscape in the United States for small businesses both for owners and entrepreneurs and the institutions that lend to them. hrough the traditional sources—both large and small banks—has yet to return to pre recession levels. This has created policy challenges for lawmakers and regulators and also I believe economic challenges when it comes to the tepid job growth we have experienced in the years since the Great Recession. But as is often the case during transitional times market opportunities emerge and we re seeing alternative online lenders step up to leverage those opportunities.
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