The Treasury Department announced Tuesday that members of the public will have an additional month to submit comments about the online marketplace lending industry.
Treasury said that it will now accept comments through September 30. The original comment period ran until Aug. 31.
Treasury launched its inquiry into the fast-growing industry on July 16, releasing a request for information that included 14 specific questions about the sector and how it operates.
The agency says that it's interested in learning more about specific business models, the potential for the marketplace lenders to expand access to credit to underserved market segments, and how regulation should evolve.
One Treasury question that has garnered significant attention inside the industry is whether marketplace lenders should be required to retain any risk from loans originated on their platforms.
Marketplace lending is an umbrella term referring to firms that use online platforms to facilitate peer-to-peer, institution-to-peer, institution-to-business, and peer-to-business loans.
As part of Treasury's inquiry, the agency held an Aug. 5 meeting with approximately 80 marketplace lending industry representatives, consumer advocates, and other interested parties.
