That difference, the Justice Department agrees, violates the fair-lending rules even if the lending process took no intentional account of race.
Although the loans are unofficial, the lending process follows a number of formalities, U Mya says.
"Enhanced disclosures are making borrowers feel more comfortable about the lending process".
Mr. Ogden goes so far as to question Kiva's role in the lending process.
One will come at the start of the lending process, the other just before closing.
The new rules should demystify at least one component of the lending process.
But some in the industry think the new standards could create further delays in an already slow lending process.
J. Michael Cummins, an Equifax executive, said consumers now want to help manage the lending process, rather than being "passive pawns".
In order to have a major negative economic impact, we believe that a credit crunch has to expand to encompass most segments of the economy and most levels of the lending process.
Lenders should also include a plain-English disclosure of loan terms in the lending process, Mr. Ranzetta said, and incorporate a loan's advertised benefits in the promissory note to make them contractual obligations.
Zopa was founded in 2005 as one of the world's first Web sites that aims to directly bring together borrowers and savers, cutting out financial institutions from the lending process.
