The Open Banking Review, led by King & Wood Mallesons partner Scott Farrell, has released an issues paper for public comment. This document explains the context and background for the Government's decision to introduce an open banking regime in Australia and outlines issues the review will be examining. In a media release yesterday, Federal Treasurer Scott Morrison noted that the review would examine: what data should be shared, and between whom; how data should be shared and kept secure; the regulatory framework that will be needed; and implementation (timeliness, "roadmap" and costs). Interested parties are invited to comment by 22 September. The report is due by the end of 2017. ASX-listed P2P and marketplace lender DirectMoney said a wholesale funding agreement with 255 Finance was in place. "The agreement is structured around the purchase of A$50 million in DirectMoney originated loan assets, with the intent to increase this in the future," the company said via an ASX announcement. 255 Finance will also receive equity in DirectMoney and options that vest based upon specific hurdles being met. DirectMoney said it expected this facility would allow it to improve both lending volumes and operational performance. DirectMoney said the facility for consumer loans originated and serviced by its platform "will become fully operational within a matter of weeks".