Eight years after a lending modelthat matches individual borrowers with investors started in theUnited States, growth for peer-to-peer lending is likely tocontinue for some time.
According to a new paper from the Federal Reserve Bank ofCleveland, peer-to-peer lending has grown rapidly at an averagepace of 84% a quarter since the second quarter of 2007.
That's compared to the total amount of money loaned throughbank-originated consumer-finance loans, which has declined, onaverage, 2% per quarter, the Fed noted. The total amount loanedthrough bank-originated credit cards has also declined on average0.7% per quarter.
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