Marci Kawski will present, "Digital Intersection of Consumer and Small Business Lending," at the ABA Consumer Financial Services Committee Winter Meeting on January 22, 2023.
Online lending continues to evolve, with lenders simplifying the origination and servicing process, and expand to include more customers, including small businesses—whether such business is a corporation or a sole proprietorship. Online small business lending is gaining traction in the way that online personal loans did over the past couple of decades. As this evolution is occurring, creditors and regulators are evaluating what consumer regulation apply to online small business lending (and which regulations should apply). In addition, an increasing number of states’ legislatures are getting involved and passing laws to regulate these loans. This panel will explore the factors leading to the growth in online small business lending, evaluate the differences and similarities between the laws that apply to online consumer lending and small business lending, discuss the new laws that are coming out that address this type of lending, and explore the differences between UDAAP and UDAP analysis.
For more information, visit the event website.