Discover CEO Bashes Other Online Lenders

Discover Financial Services CEO David Nelms stated, “It really takes a decade of experience going through cycles to understand how to use credit bureau information to have good predictions…The funny thing is they’re not making money, even in a great cycle.”; Nathaniel Hoopes, executive director of the Marketplace Lending Association provided his own comments on the manner and how marketplace lending is putting pressure on credit card issuers and other traditional lenders. Source