How San Bernardino Impacts the Lending Industry

Loan to San Bernardino Shooter Draws Scrutiny to Online Lending Industry
– Los Angeles Times

The Los Angeles Times interviewed Manatt's Brian Korn, a partner in the firm's Capital Markets practice, for an article on the loan issued by Prosper Marketplace to San Bernardino shooter Syed Rizwan Farook. The loan may have helped the shooters prepare for the assault, and it has prompted Congress to take a closer look at the fast-growing business of online lending.

"You have a borrower who has no known ties to any terrorist organizations and who presumably has a good credit record," said Korn, who represents online lending companies. "I don't believe any new regulations, short of allowing outright racial or ethnic discrimination, would have resulted in a different outcome."

Read the article here