House Committee Calls a Hearing on Crowdfunding

The House Committee on Oversight and Government Reform (Subcommittee on TARP, Financial Services, and Bailouts of Public and Private Programs) will hold a hearing on "Crowdfunding: Connecting Investors and Job Creators" on September 15.  According to a Wall St. Journal story, Rep. Patrick McHenry called the hearing in response to the SEC's refusal to allow two marketing entrepreneurs to raise money in online pledges to buy Pabst Brewing Co.  Rep. McHenry also plans to introduce legislation to make it easier to raise money through crowdfunding.  WSJ, Fizzled Beer Deal Prompts 'Crowd-Funding' Hearing