Samuel Hu, an attorney at Chapman & Cutler LLP in New York, has been an occasional contributor here at Lend Academy. He wrote this post on p2p lending regulation a year ago and now he is back to share his updated white paper with us. I chatted with Hu last week when he reached out to me about this new report.
Titled simply, The Regulation of Peer-to-Peer Lending (download the 44-page PDF here), it updates the regulatory framework within which p2p lending platforms operate. Here is a synopsis:
Internet-based lending platforms – so called peer-to-peer facilities – are becoming an increasingly important source of consumer credit and have the potential for continued rapid growth. The platforms may offer borrowers the opportunity to obtain credit at lower interest rates than would be available to them through banks or other traditional lenders and offer investors the opportunity for attractive risk-adjusted rates of return.
Chapman’s white paper – The Regulation of Peer-to-Peer Lending – summarizes the principal legal and regulatory issues associated with this increasingly important source of consumer and business credit. Originally published in March 2013, the paper has been updated to discuss a number of recent regulatory and market developments affecting internet lending, including the SEC’s new private placement rules, the potential for securitizations of peer-to-peer loans and the SEC’s proposed crowdfunding rules.
Webinar Happening on Wednesday
If you are interested in learning more about p2p lending regulation there is a free webinar on Wednesday of this week. Chapman attorneys, Peter Manbeck, Marc Franson, and Sam Hu, will be presenting an overview of the principal regulations that apply to internet-based lending and recent regulatory developments, including the proposed SEC crowdfunding rules on Wednesday, April 16, 2014, 5:30-6:30 pm EDT, in the firm’s New York office. If you are interested in attending the program (in-person or via webinar), please contact Claire Wambach at firstname.lastname@example.org.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.