The future of Market Place Lending – Madden and beyond

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Presents

Marketplace Lending after Madden vs Midland and related problems (true lender, mandatory arbitration,etc. )

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Agenda

The supreme court decision not to hear Madden vs Midland:

· National Bank Act (NBA) vs

· What does this mean for securitization for Marketplace Lenders ?

· What does this mean for Marketplace Lenders ?

· What are the next steps expected in Madden vs Midland ?

· How does this affect regions outside of New York, Vermont and Connecticut ?

· Effect on borrowers in New York, Vermont and Connecticut ?

· What about Bethune v. LendingClub, WebBank et al. ? (true lender case and test of the platforms’ mandatory arbitration clauses contained in every consumer loan agreement)

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We will offer a 45 min panel with executives:

Panel moderator :

George Popescu, Founder and Editor in Chief, Lending Times.

Greg Nowak, Partner at Pepper Hamilton.

Panel members :

• Emerald, an investor in Marketplace Loans, an asset management firm providing research-based portfolio management

• Richard P. Eckman, Partner at Pepper Hamilton

• Stephen Sheinbaum, founder of Bizfi

• Jonathan Joshua, general counsel, Pave

• Mark Solomon, general counsel , Orchard Platform

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About the panel :

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Lending Times focuses exclusively on the peer-to-peer (p2p), marketplace and the alternative lending market. We provide a daily news digest and, a few times a week, an analysis on different aspect of the industry. Analysis topics include interesting business models, crowdlending and crowdfunding real-estate, unique originators, potential sources of venture capital and securitization via original service providers to the space. We cover companies like Lending Club, Prosper, Avant, SoFi, Funding Circle, OnDeck, Zopa and more.

George A. Popescu is the editor in chief of Lending Times, a news, data and analysis portal for the executives of p2p and marketplace lending industries. George built 10+ businesses and exited 4 of them successfully. He was the co-CEO and co-founder of Backed, an online lending marketplace focused on co-signed personal unsecured loans. Previously he sold and exited Boston Technologies (BT) in 2014. BT is a fin-tech company in the currencies over-the-counter space. George was the Founder and CEO and boot-strapped it from $0 to a $20+ million business without any equity investment. BT has been #1 fastest growing company in Boston in 2011 and on the Inc. 500/5000 list 4 years in a row. BT was acquired by Currency Mountain in 2014.

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Emerald is an asset management firm providing research-based portfolio management. We provide growth-oriented and income-producing portfolios for institutions and individuals.

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Pave is an online lending company that provides affordable loans for a generation wanting to excel in life and take control of their finances. Unlike lending by traditional banks or credit card companies, Pave loans are based on potential for success rather than only credit history and FICO score.

Pave gives you access to affordable funding. Whether it's paying off your credit cards, taking a course, remodeling your house, making a large purchase,or starting a business, we'll help you reach your financial goals!

How do we do it? Our proprietary underwriting model takes a holistic and contextual approach to assess the true creditworthiness of an individual. This unique approach leverages machine learning guided by human insight. We identify borrowers who are being penalized by traditional credit scoring methods due to the lack of history, and identify those whose financial profile is likely to improve.

Jonathan Joshua is General Counsel at Pave. Jonathan joins from Citizens Bank, where he was a VP and Senior Counsel, and was the lead attorney for Citizens Automobile, Student and Personal lending products, and was also the bank's fair lending and privacy attorney. Prior to joining Citizens, Jonathan was a Managing Director and Associate General Counsel at Sallie Mae, where he focussed on Sallie Mae's private student loan products. Jonathan was graduated from Fordham University School of Law in 1999.

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Bizfi, is the premier FinTech company combining aggregation, funding and a participation marketplace on a single platform for small businesses. Founded in 2005, Bizfi and its family of companies have provided more than $1.7 billion in financing to more than 31,000 small businesses in a wide variety of industries across the United States. Bizfi's connected marketplace instantly provides multiple funding options and real-time pre-approvals to businesses from a wide variety of funding partners. Bizfi's funding options include short-term financing, franchise financing, lines of credit, equipment financing, invoice financing, medium-term loans and long-term loans guaranteed by the U.S. Small Business Administration. The Bizfi API provides a turnkey white label or co-branded solution that easily allows strategic partners to access the Bizfi engine and present their clients with financial offers from Bizfi lenders all while maintaining their customer's user experience. A process that once took hours, now takes minutes.

Stephen Sheinbaum is the founder of Bizfi, the premier FinTech company combining aggregation, funding and a participation marketplace on a single platform for small businesses. Founded in 2005, Bizfi and its family of companies have provided more than $1.7 billion in financing to more than 31,000 small businesses in a wide variety of industries across the United States. Mr. Sheinbaum has authored several articles that have appeared in a variety of national publications, he has spoken on numerous industry panels, and he was most recently featured on CNBC where he discussed the current state of lending to small businesses.

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About Orchard

Orchard is the leading provider of technology and data to the marketplace lending industry, powering the interaction between institutional investors and loan originators. Founded in New York City in 2013, Orchard’s mission is to build the systems and standardize the data that will allow marketplace lending to efficiently grow into a global financial market. Orchard provides products and services to investors that enable them to understand, access, and execute marketplace lending investments, including Market Data, Reporting, and a powerful Order Management System. Orchard offers originators access to a diverse group of institutional investors who use Orchard to purchase marketplace lending assets. A single integration using Orchard’s proprietary approach to data standardization enables end-to-end marketplace support through Investor Awareness, Education & Insights, and Data Integrity & Transparency products. Orchard has been named to Forbes Next Billion Dollar Startups (http://www.forbes.com/next-billion-dollar-startups/) list, produces the Orchard US Consumer Marketplace Lending Index (https://orchardindexes.com/) — the only industry wide benchmark distributed on the Bloomberg Professional service — and is recognized for its technical and analytical thought leadership as explored on its blog (http://www.orchardplatform.com/blog/).

Mark Solomon,General Counsel, Orchard Platform

Mark Solomon is General Counsel of Orchard, where he is responsible for all legal and compliance functions. Prior to joining Orchard, Mark was Managing Director and Deputy General Counsel of ITG, an independent broker-dealer and provider of investment research, electronic trading platforms, and trading analytics, where he was responsible for a broad array of subject matter areas including general corporate, litigation, regulatory affairs, strategic partnerships, client relationships, technology/operations, and intellectual property. Before ITG, he held associate attorney positions with Simpson Thacher & Bartlett and Cravath, Swaine & Moore in New York. Mark earned a BA in English

cum laude

from Columbia College and a JD from Columbia Law School, where he was a Harlan Fiske Stone scholar.

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Pepper Hamilton LLP is a multi-practice law firm with more than 500 lawyers nationally. The firm provides corporate, litigation and regulatory legal services to leading businesses, governmental entities, nonprofit organizations and individuals throughout the nation and the world.

Richard P. Eckman is a partner in the Wilmington office of Pepper Hamilton LLP. He is a finance and transactional lawyer and from 2003 to 2015 was chairman of the firm’s Financial Services Practice Group. Mr. Eckman has had an active practice representing online lenders, servicers, and others, including financial institutions, finance companies, licensed lenders and others including those involved in the marketplace lending industry. He is the former chair of the Online Lenders Alliance lawyers committee and a member of the Lawyers Committee of the Consumer Bankers Association.

Gregory J. Nowak is a partner in the Philadelphia office of Pepper Hamilton LLP and a practice leader for hedge funds in the firm’s Funds Services Practice Group. He concentrates his practice in securities law, particularly in representing investment management companies and other clients on matters arising under the Investment Company Act of 1940 and the related Investment Advisers Act of 1940. Mr. Nowak also handles mergers and acquisitions, corporate and regulated investment company tax work and other corporate matters. He also represents broker-dealers and CTAs and CPOs with respect to matters under the Securities Exchange Act of 1934 and the Commodity Exchange Act.