Lead generation is a long-established marketing and advertising method used throughout the American business community that has become increasingly important in the age of internet commerce. Consumer focused companies use third-party lead generators to reach people who are looking for specific goods and services. Through their own independent marketing and advertising, lead generators create marketplaces in which consumers looking for particular goods and services are connected with companies that provide these goods and services.
In today’s technology enabled marketing era, successful companies are laser-focused on the customer experience. A technology platform known as the “Ping Tree” has long been a staple of the online lead generation industry. This paper seeks to provide a better understanding of the Ping Tree model and how it helps borrowers meet their financial needs through ease of use and a faster approval process.
OLA Comment: Small Business Lending Data Collection Under the Equal Credit Opportunity Act (Regulation B) Docket No. CFPB 2021-0015