Acting Comptroller Speaks at Online Lending Policy Summit

Acting Comptroller of the Currency Keith Noreika spoke about the online lending industry, discussing the potential of companies taking deposits and seeking banking charters; he shared,”One way a maturing industry adapts to changing market conditions is to diversify its funding sources and expand into other sources that offer greater stability. As the industry matured, companies have found a balance that includes selling loans to retail and wholesale investors, securitizing loans, and even exploring the potential for deposits.” American provides more on his remarks in their article. Source