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Conference Program
Friday, December 2, 2016
8:00 a.m.
Registration and Breakfast
8:45 a.m.
Welcoming Remarks
Robin Prager, Senior Adviser, Federal Reserve Board
8:55 a.m.
Remarks on Fintech
Lael Brainard, Governor, Federal Reserve Board
9:15 a.m.
Keynote address: Lending Markets in Transition
Adair Morse, Associate Professor, Haas School of Business, University of California, Berkeley
9:45 a.m.
Research Panel #1: Characteristics and Performance of Small Businesses that Borrow Online
Moderator: Traci Mach, Principal Economist, Federal Reserve Board
Is ‘Fintech’ Good for Small Business Borrowers? Impacts on Firm Growth and Customer Satisfaction (PDF)
Mark Schweitzer*, Senior Vice President, Federal Reserve Bank of Cleveland
Brett Barkley, Research Analyst, Federal Reserve Bank of Cleveland
Discussant: Timothy Dore, Senior Economist, Federal Reserve Board
Going Online? The Motive of Firms to Borrow from the Crowd (PDF)
Jieying Li, PhD Student, Stockholm School of Economics and Swedish House of Finance
Discussant: Gregory Udell, Chase Chair of Banking and Finance, Kelley School of Business, Indiana University
11:00 a.m.
Break
11:15 a.m.
Practitioner Panel #1: Online lending: Partnerships vs. Going it Alone
Moderator: Stephen Zeldes, Benjamin M. Rosen Professor of Finance and Economics, Columbia Business School
Panelists:
George Buchanan, Executive Vice President, Credit Risk Management, Regions Financial Corporation
Daniel Gorfine, Vice President, External Affairs & Associate General Counsel, OnDeck
Robert Lavet, General Counsel, SoFi
Brian Graham, CEO, AlliancePartners
Richard Neiman, Head of Regulatory and Government Affairs, Lending Club
12:30 p.m.
Lunch
1:30 p.m.
Research Panel #2: The Role of Information in Online Lending
Moderator: Robert Adams, Principal Economist, Federal Reserve Board
Marketplace Lending, Information Efficiency, and Liquidity
Julian Franks, Professor, London Business School
Nicolas Serrano-Velarde*, Assistant Professor, University of Bocconi
Oren Sussman, Reader in Finance, University of Oxford
Discussant: Alex Zhou, Senior Economist, Federal Reserve Board
Adverse Selection on Maturity: Evidence from Online Consumer Credit (PDF)
Andrew Hertzberg*, Assistant Professor, Columbia Business School
Andres Liberman, Assistant Professor, New York University
Daniel Paravisini, Professor, London School of Economics
Discussant: Sumit Agarwal, Professor, Georgetown University
Economic Value of Texts: Evidence from Online Debt Crowdfunding
Qiang Gao, Assistant Professor, Baruch College
Mingfeng Lin*, Assistant Professor, University of Arizona
Discussant: Marina Niessner, Assistant Professor, Yale School of Management
3:15 p.m.
Break
3:30 p.m.
Practitioner Panel #2: Online lending: Benefits, risks, and regulatory concerns
Moderator: Marysol McGee, Senior Community Affairs Analyst, Federal Reserve Board
Panelists:
Ami Kassar, CEO, Founder, Multifunding
Brian Knight, Senior Research Fellow, Mercatus Center
R. Jesse McWaters, Financial Innovation Lead, World Economic Forum
Laura Cummings, Senior Manager, Center for Financial Services Innovation
Karen Mills, Senior Fellow, Harvard Business School
4:45 p.m.
Closing Remarks
Robin Prager, Senior Adviser, Federal Reserve Board
5:00 p.m.
Adjourn
*Presenting author
