A handful of financial start-ups have formed a lobbying group to press for legislation to ease regulation of their activities and provide federal support for lending outside the traditional banking system.

Executives at members of the Coalition for New Credit Models called their businesses the "wind and solar" of the financial services industry, with the potential to revolutionize the transmission of funds from savers to borrowers and open the flow of credit to consumers who have few dealings with banks and to small and midsize businesses.

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