With more than 8 billion dollars in loans issued by just the two largest crowdlending platforms in the U.S., as of October 2014, p2p-lending is now in the focus of regulators worldwide. At the moment, the p2p lending industry is undergoing a fast paced dynamic of policychanges by the platforms and adaptions to new regulation and legal framework. Using an extensive dataset from the largest p2p-lending platform in the U.S., the paper provides an empirical framework, contributing to several open questions regarding both platform design and market regulation.