Property News · February 10, 2016

Former City regulator warns of potential peer-to-peer lending crisis


Lord Turner questions rigorousness of checks on borrowers and says industry losses could emerge that make the worst bankers look like ‘lending geniuses’The former City regulator Lord Turner has warned that losses in the peer-to-peer (P2P) lending industry will make Britain’s worst bankers look like geniuses. Turner said P2P lenders were trying to automate loans that required proper checks on borrowers assets and competence. He said advertising for the lenders should have clear warnings and that only people who can afford to lose their money should take part. Continue reading…

Source : theguardian.com
Read more…Former City regulator warns of potential peer-to-peer lending crisis

You may also like...