SFIG to Comment on Basel Consultation on Fintech

Last Thursday, August 31st, the Basel Committee on Banking Supervision (BCBS) announced the release of a consultative document entitled, Sound Practices: Implications of Fintech Developments for Banks and Bank Supervisors, which assesses how technology-driven innovation in financial services may affect the banking industry and the activities of regulators and supervisors in the near to medium-term. 

SFIG’s Marketplace Lending Committee will coordinate the response to the BCBS. SFIG members believe that extensive and robust regulation already exists covering the extension of credit, asset sales and securities issuance relevant to the MPL market.  Comments to the BCBS are due by Tuesday, October 31st. If you are interested in joining the Marketplace Lending Committee, please contact Michael.Williams@sfindustry.org.

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