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Borrowers Ditch Banks, Turn to Peer Loans

Once modest industry will soon lend more than $5 billion annually

By Mat Probasco, Newser Staff

Posted Sep 20, 2009 9:38 AM CDT

(Newser) – As the banking pendulum swings from reckless lending to impossible-to-get credit, people are increasingly turning away from institutions and toward each other for loans, reports the Washington Post. The shaky stock market has made the peer-to-peer market ideal for investors, while borrowers happily trade credit... Read full story »

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Borrowers Ditch Banks, Turn to Peer Loans

Once modest industry will soon lend more than $5 billion annually

credit • credit card loans • credit market chaos • peer-to-peer • Securities and Exchange Commission

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