PHILADELPHIA (August 26, 2015) – Marketplace lending has experienced meteoric growth over the past year – and has been the subject of recent federal regulatory interest. To help marketplace lending firms comply with increasing regulation, develop new product platforms, and navigate potential enforcement issues, Ballard Spahr has assembled a dedicated task force of attorneys with specific experience in this sector.
Marketplace lending uses investment capital and data-driven online platforms to lend money to consumers and small businesses. The firm’s Marketplace Lending Task Force brings together lawyers with experience in regulatory compliance, product development, and regulatory enforcement and litigation. The firm represents some of the largest and most established players in the space – including FinTech platforms, balance-sheet finance companies, bank partners, investors, and service providers in both the “peer-to-peer” and “business-to-business” segments of the industry.
“Ballard Spahr has always been ahead of the curve on consumer financial services issues – marketplace lending is no exception,” said Scott M. Pearson, a Los Angeles-based partner in the firm’s Consumer Financial Services Group and leader of the task force. “The lawyers on this task force have decades of experience counseling consumer and small business finance companies and can develop, refine, and defend financial products in every jurisdiction in the country.”
Ballard Spahr is nationally recognized for excellence in financial services compliance and litigation. Its attorneys advise on regulatory matters, assist in the design and documentation of credit products, and represent clients in class actions, regulatory enforcement proceedings, and other lawsuits nationwide. We represent clients ranging from the largest financial institutions in the nation to smaller enterprises and Internet-based providers.
About Ballard Spahr
Ballard Spahr LLP, a national law firm with more than 500 lawyers in 14 offices in the United States, provides a range of services in litigation, business and finance, real estate, intellectual property, and public finance. Our clients include Fortune 500 companies, financial institutions, life sciences and technology companies, health systems, investors and developers, government agencies and sponsored enterprises, educational institutions, and nonprofit organizations. The firm combines a national scope of practice with strong regional market knowledge. For more information, please visit www.ballardspahr.com.