Just two lending platforms survived the SEC’s entry right into a formerly lightly-regulated market.

Just two lending platforms survived the SEC’s entry right into a formerly lightly-regulated market.

Introductory Note

In 2008, the Securities and Exchange Commission made waves by determining to manage the nascent lending industry that is peer-to-peer. Just two lending platforms survived the SEC’s entry as a formerly lightly-regulated market. The SEC would regulate the lending-investing process, while other agencies like the Consumer Financial Protection Bureau and Federal Trade Commission would regulate the borrower side of the business under this regulatory setup.Read more