Former Treasury Secretary and current Harvard University President, Larry Summers joins TheStreet’s Janet Al-Saad Alvarez in an exclusive interview to discuss the new lending economy. In his keynote speech at today’s LendIt Conference entitled ‘New Lending for a New Economy,’ Summers discusses the role and importance of online and marketplace lenders to improved borrower outcomes and economic performance. New lenders, such as LendingClub, Prosper, and SoFi, bring increased transparency and speed to the lending process. Online lending technologies can help increase industry efficiency, reduce risk, and ultimately deliver greater stability to the broader economy, says Summers.
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