Friendsclear Temporarily Halts Operations Due To Regulation Issues

Regulation is an often met obstacle to p2p lending. This time Friendsclear in France is affected and has announced a temporary stop to new loan funding. The Banque de France has requested changes in the operating procedures that Friendsclear and its banking partner Crédit Agricole use.

Friendsclear expects the suspension of funding of new loans to last at least one month. Servicing of loans already funded in the past is unaffected.