It’s been an especially difficult environment for lending startups following Lending Club’s challenges and other industry regulatory concerns. But Rees said that he’s optimistic that any upcoming regulation surrounding payday loans would likely just “get rid of a lot of bad actors” and that Elevate would prevail because their standards are in line with the Consumer Finance Protection Bureau (CFTB).

https://techcrunch.com/2017/04/06/elevate-credit-pulls-off-lending-ipo/