Last year, OLPI hosted the first annual MPL Policy Summit. This Summit was the first of its kind for the marketplace lending industry. It brought together policymakers, academics, regulators, consumer advocates, and industry participants, as well as media figures, to have a well-informed discussion about the best ways to grow this industry in a fair and compliant manner.
Comptroller Curry gave a keynote that addressed the OCC’s planned fintech charter. Senator Merkley addressed the need for smart guidance and regulations to avoid the ills of certain payday lending practices. Congressman Patrick McHenry reiterated the importance of all of the participants engaging and educating policymakers through forums like the MPL Policy Summit. The Summit had several thought-provoking and engaging panels with participants from U.S. Department of Treasury, the Consumer Financial Protection Bureau, Boston University, Harvard University, Cadwalader, Chapman Cutler, Cross River Bank, Lending Club, Prosper, and many others. Highlights from the First Annual MPL Policy Summit are provided below.
This year, OLPI will build on the success of the first Summit and host the second annual MPL Policy Summit again in DC. The Summit will facilitate “the room where it happens.”
KEYNOTE ADDRESS BY THOMAS CURRY COMPTROLLER OF THE CURRENCY, US TREASURY DEPARTMENT
Introduction by Con Hurley, Director of the BU Center for Finance, Law & Policy
MPL POLICY ROUND TABLE DISCUSSION
Moderating by Peter Renton, Lend Academy