In an interview with P2P Finance News, Christine Farnish talks about their relationship with the Financial Conduct Authority, the recent departures of LendInvest and RateSetter from the group and updates to membership criteria; Farnish teased that there will be major changes to the way the P2PFA operates coming in November. Source
P2P lenders have been debating the definition of default as many investors seek standardization; Peer-to-Peer Finance Association (P2PFA) members define a default when a loan is 45 days overdue and begin recovery collection at 120 days; non-P2PFA platforms have varying standards that fit with their business models, ranging from two consecutive months to 180 days to three missed payments; in the banking industry banks do not have a standard definition, focusing more on delinquent payment collections than actually labeling a loan in default. Source
The long awaited new rules for P2P lending in the UK are now here; the Financial Conduct Authority (FCA) announced...
Christine Farnish, the chair of the P2PFA for the past five years, is stepping down and is being replace by Paul Smee. Source
A groundbreaking new report is being released today at LendIt Europe 2016 in London. Titled “The economics of peer-to-peer lending”, the report was...
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In this blog series, we interview previous LendIt conference speakers to receive an update on their industry perspective and provide...
The long awaited changes to P2P lending regulations in the UK are finally here. Today, the Financial Conduct Authority (FCA)...
Members of the Peer-to-Peer Finance Association are approaching £10 billion in lending; Peer2Peer Finance News digs into the companies with...
The P2PFA has announced changes to the standards for its members which will be put in place next April; the new rules, according to Christine Farnish, Independent Chair of the P2PFA are “…built around the principles of transparency, integrity, honesty and competence.” Source
The P2PFA has added Folk2Folk expanding its membership to nine; Folk2Folk is the only P2P lender in the UK to offer regional branch offices for customers to meet with representatives; the lending platform was authorized by the Financial Conduct Authority in December 2016; it is a secured property small business lender and has lent a total of approximately £134 million ($167.28 million) to small businesses. Source