Small Business is the growth engine of our nation’s economy, and commercial lending is the lifeblood that keeps this engine revved-up. The Small Business Administration estimates that there are more than 28 million small businesses in the US and that they hire more than 50 percent of our country’s workers. That’s astounding!
Once thought to be outside of the compliance and regulatory obligations of consumer lending, the SME lending environment is emerging as equally challenging.
Are you a commercial lender that uses the personal credit history of business owners to gauge commercial credit risk? Do you face challenges in complying with Know-Your-Customer laws? Are you aware of how the regulatory priorities of the Consumer Financial Protection Bureau might affect commercial lenders?
Do you want to know about big data and the disruptive technologies in the commercial lending space? While often recognizing the benefits associated with big data, regulators have continued to express concerns about the potential negative consequences related to fair lending and segmentation of consumers. This could ultimately bleed over to the commercial lending environment.
To help our clients understand the complex and dynamic regulatory landscape for commercial lenders, Experian will be hosting a panel discussion on this topic at our Vision 2015 Conference in Washington, D.C. I will be participating in the panel alongside Michael Turner from the Policy and Economic Research Council (PERC) and it will be moderated by Dan Meder, Experian Business Information Services’ VP of Product Management.
This panel will take a look at the areas in which consumer financial regulation converges with commercial lending, as well as any emerging legislation and regulation you should know about.
Watch my video outline of the session: