RK&O partners Scott Budlong was quoted in International Business Times' article "What Happened to LendingClub? Bank Industry’s Big Disrupter Stumbles."
The industry is preparing to face increased regulation. The Madden v. Midland decision could prove detrimental to the industry if the Supreme Court finds that state-level usury laws apply nationally to non-banks. "Some of the loans could in fact be seen to be violating usury laws," Mr. Budlong said.
The article also references RK&O's 2016 Survey of U.S. Marketplace Lending.