WASHINGTON, Aug. 9, 2017 /PRNewswire-USNewswire/ -- The Online Lending Policy Institute (OLPI), the leading voice for policy analysis, in-depth research, and education for the online lending industry, today announced it will host its Second Annual Summit on Sept. 25 at The Renaissance Hotel in Washington D.C. Building upon last year's groundbreaking Marketplace Lending Policy Summit and a successful online lending track at LendIt 2017, this year's summit, renamed the Online Lending Policy Summit, will provide an opportunity for industry participants to share insights, propose standards, and have an open dialogue with regulators and policymakers to build consensus viewpoints on the regulation of online lending. The Summit will feature influential speakers and participants from across the online lending industry, including lenders, academics, legislators, lawyers, bankers, consumer advocates, regulators, and more.
Founded by Cross River, the Boston University Center for Finance, Law & Policy (CFLP), and RocketLoans, the Online Lending Policy Institute is a unique private and public partnership that was created to provide a one-stop resource for those involved in financial technology and marketplace lending. The Institute's Board of Governors consists of industry experts including academics, lawyers, and executives from twelve leading organizations.
OLPI will host the Summit to continue to facilitate an open and constructive dialogue between the public and private sectors, present reasonable solutions to meet the goal of responsible innovation, and convene various stakeholders to encourage the development of a regulatory framework that protects borrowers while promoting innovation.
"OLPI's mission is to encourage responsible innovation in online lending through thought leadership and meaningful dialogue between policy makers, industry experts, and academics," said Prof. Cornelius Hurley, Executive Director, OLPI. "The Summits serve the purpose of informing OLPI's research agenda by focusing intently on the issues that are of greatest importance to customers, lenders and other participants in the online lending and Fintech community."
The Summit will provide an opportunity for responsible industry participants to share insights, propose standards and provide regulators and policymakers with consensus viewpoints on the regulation of online lending. At the same time, the Summit will stress the policy and regulatory issues facing the industry.
"Last year's MPL Summit was the first open forum where participants from across the MPL industry came together to have a well-informed, constructive discussion about how best to grow the industry in a compliant, safe and sound manner," added Gilles Gade, President and CEO, Cross River. "This year's Summit will once again enable thought leaders from the private and public sectors to engage in a much needed dialogue between online lending industry participants and the various regulatory agencies to help design the industry's framework and position it for sustainable success."
As with the MPL Summit in 2016, the insights from the Online Lending Policy Summit will be gathered, analyzed and disseminated to all industry stakeholders by OLPI. A list of speakers, including industry experts and policy makers, will be announced soon. For additional information about attending the event or becoming a sponsor, please visit onlinelendingpolicysummit.com.
About the Online Lending Policy Institute
The Online Lending Policy Institute's mission is to ensure consumers continue to benefit from the lower cost of credit and increased, convenient access to capital provided by online lending while supporting consumer protection and a strong financial system. The Institute works towards that mission by engaging policy makers and industry stakeholders in the creation of forward-thinking public policy. For additional information visit olpi.info.
Membership in OLPI is open for Fintech start-ups, banks, online lenders, service providers, consumer groups, other industry associations, academics, attorneys, and consultants. For more information about OLPI, include about becoming a member, visit olpi.info.
About Cross River Bank
Founded in 2008, Cross River is a New Jersey State Chartered FDIC-insured bank. The company recently secured $28 million VC funding from three well-regarded investors (Battery Ventures, Andreessen Horowitz, and Ribbit Capital) and has developed strategic partnerships with FinTech leaders to build fully compliant and integrated solutions for the marketplace lending and payment processing arenas. As disintermediation and financial independence increasingly fuel the new economy, Cross River is uniquely positioned to service both the established giants and the growing list of new entrants into these sectors. Corporate website: www.crossriverbank.com.
Detroit-based RockLoans Marketplace LLC (d/b/a RocketLoans) is a national marketplace lending company specializing in online personal loans. As a recent addition to the Quicken Loans Family of Companies, RocketLoans is committed to providing the most user-friendly lending process available today. The company boasts a client-centric, convenient and secure approach to the personal loan process that is best-of-breed in the marketplace lending industry. Loans received through RocketLoans are made by Cross River Bank, an FDIC insured, New Jersey State chartered commercial bank, and serviced by RocketLoans. For more information please visit RocketLoans.com.
William M. Bell
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SOURCE Online Lending Policy Institute