The California State Legislature is in session and California’s senate banking committee will be discussing peer-to-peer lending at a hearing on Wednesday.
Here is a summary from the Sacramento Bee of the hearing’s topic:
WEDNESDAY: The Senate Banking Committee examines the evolving practice of person-to-person lending, also called P2P lending. The committee’s chairman, Democratic Sen. Ron Calderon of Montebello, is touting this new lending market for borrowers caught between the drop in home equity and the rise in credit card rates. The hearing runs from 1:30 to 4 p.m. Wednesday in Room 112.
