Marketplace Lending Hearing To Be Held By House Subcommittee
Businesses walking the government tightropeOn July 12th, the Subcommittee on Financial Institutions and Consumer Credit is scheduled to hold a hearing to examine the opportunities and challenges specifically in online marketplace lending. Among the witnesses offering testimony will be Parris Sanz, Chief Legal Officer of CAN Capital and Sachin Adarkar, General Counsel of Prosper Funding. Rob Nichols, the CEO of the American Bankers Association and Bimal Patel, a partner of O’Melveny & Myer will join them.
The hearing will be held at 2PM in room 2128 of the Rayburn House Office Building and also streamed online.
A memorandum circulated by the House Financial Services Committee said that the “hearing will give Committee members the opportunity to assess the development of the FinTech market, including how online lenders and banks interact. Further, the hearing will evaluate the current regulatory structure and recent policy developments.”