ABA Banking Journal recently interviewed LoanStreet’s CEO, Ian Lampl, in their article “Automated loan-trading platforms use data to address multiple challenges” by reporter John Hintze.
From the article:
“Ian Lampl was deputy chief counsel for the Treasury Department’s Troubled Asset Relief Program before co-founding LoanStreet a decade ago. As the fintech’s CEO, he said that during his TARP stint he was struck by how difficult it was for community banks and credit unions to share credits. He noted an example of a lender in upstate Maine that was unable to fund loans in downstate Maine much less elsewhere in the country and ended up accumulating excessive geographical and product credit risk. Such over-concentrations are common among smaller depositories without the broad scope of financial supermarkets such as JPMorgan Chase and Citigroup.
“They needed a way to effectively manage their balance sheets, and that covers geography, product and duration,” Lampl says.”
Read the full article here.
