Congresswoman Nydia Velázquez, ranking Democratic member on the House Small Business Committee, has sent a letter to Director Cordray and Mary Jo White, SEC Chair, seeking information about the roles of the CFPB and SEC in regulating online lending to small businesses.

In her letter, Ms. Velázquez raises concerns that “small business consumers and retail investors that participate in the online lending market may face undue risks, and lack basic consumer protections, as a result of the current regulatory environment.” … Continue Reading