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  1. #1
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    California regulator launche inquiry into marketplace lenders

    Marcus Clapman | Business Development | Cresthill Capital
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  2. #2
    Veteran Reputation points: 134971 Chambo's Avatar
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    California is conducting an inquiry into the practices of 14 online marketplace lenders to better understand the industry and how the state should think about its licensing and regulatory approach to the companies. The Department of Business Oversight, which licenses financial services companies in the state, is seeking to assess the industry’s size in California, how loans are funded, and how many businesses and customers it touches, the regulator said Friday, without disclosing which firms had been contacted. Marketplace, or peer-to-peer, lenders have grown quickly as consumers and small businesses turn to the online platforms to get credit more easily and quickly than working with a bank. “These online lenders are filling a need in today’s economy, and we have no desire to squelch the industry or innovation,” said Jan Lynn Owen, the state agency’s commissioner, in a statement. Beth Haiken, a spokeswoman for the firm, said in an e-mail that the company “understands the state is particularly interested in transparency and disclosure of credit terms and costs.”

  3. #3
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    Chambo i now see clearly why they pay you the big bucks!! you broke it down to the tee!
    Marcus Clapman | Business Development | Cresthill Capital
    (High Commissions Payout Group)
    覧覧覧覧覧覧覧覧覧覧覧覧覧
    Tel: 917-521-6528 | Fax: 212.671.1473
    Email: bizdev@cresthillcapital.com
    http://www.cresthillcapital.com

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