Lending Club

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3d
FOX Business
3 Reasons Square, Inc. Stock Could Fallbut heightened regulatory scrutiny could put a damper on the success of Square
3 Reasons Square, Inc. Stock Could Fall
FOX Business / Posted 3 days ago
but heightened regulatory scrutiny could put a damper on the success of Square Capital. Earlier this month, online lender Lending Club said it was under investigation by the US Department of Justice. The company isn't a direct competitor to... Read more
3d
FOX Business
3 Reasons Square, Inc. Stock Could Fallbut heightened regulatory scrutiny could put a damper on the success of Square
3 Reasons Square, Inc. Stock Could Fall
FOX Business / Posted 3 days ago
but heightened regulatory scrutiny could put a damper on the success of Square Capital. Earlier this month, online lender Lending Club said it was under investigation by the US Department of Justice. The company isn't a direct competitor to... Read more
4d
Investopedia
New York Financial Watchdog Extends Online Lender ProbeThe loss of this key relationship is a bad omen for the online lender as banks,
New York Financial Watchdog Extends Online Lender Probe
Investopedia / Posted 4 days ago
The loss of this key relationship is a bad omen for the online lender as banks, "accounted for 34% of the $2.75 billion in funding that took place on LendingClub in the first quarter of 2016." (For more, see: Banks Suspend Lending Club Purc... Read more
6 related stories
4d
The Economic Times
RBI keeps a watch, demands P2P lending only via bank accountsconcerns among regulators over the quality of borrowers and other issues. One o
RBI keeps a watch, demands P2P lending only via bank accounts
The Economic Times / Posted 4 days ago
concerns among regulators over the quality of borrowers and other issues. One of the top companies in the sector, US-based Lending Club , recently saw the exit of CEO Renaud Laplanche over alleged violations related to the sale of loans. While the... Read more
5d
Fortune
New York Regulator Expands Fintech Probe Beyond Lending ClubNew York state’s financial regulator, which recently launched a probe into Lend
New York Regulator Expands Fintech Probe Beyond Lending Club
Fortune / Posted 5 days ago
New York state’s financial regulator, which recently launched a probe into Lending Club lc, is preparing to look into the activities at other online lenders and whether they should be licensed in New York, a person familiar with the matter said on... Read more
6 related stories
5d
Bankrate.com
Prosper increases personal loan ratesoriginate. The drumbeat against these personal loan operators has only gotten l
Prosper increases personal loan rates
Bankrate.com / Posted 5 days ago
originate. The drumbeat against these personal loan operators has only gotten louder following the ouster of the CEO of Lending Club this month over loan improprieties. In announcing the rate increase, Prosper's chief risk officer said the... Read more
7d
Channel NewsAsia
Financial tech startups compete for overlooked US immigrant marketonline lending sector as a whole has faced new scrutiny in recent months in the
Financial tech startups compete for overlooked US immigrant market
Channel NewsAsia / Posted 7 days ago
online lending sector as a whole has faced new scrutiny in recent months in the wake of scandals at industry leader Lending Club. But Lendup says its customer base of half a million borrowers is growing at 15 percent per month. The company... Read more
2 related stories
7d
Reuters
Financial tech startups compete for overlooked U.S. immigrant marketonline lending sector as a whole has faced new scrutiny in recent months in the
Financial tech startups compete for overlooked U.S. immigrant market
Reuters / Posted 7 days ago
online lending sector as a whole has faced new scrutiny in recent months in the wake of scandals at industry leader Lending Club. But Lendup says its customer base of half a million borrowers is growing at 15 percent per month. The company... Read more
2 related stories
7d
The Economic Times
Financial tech startups compete for overlooked US immigrant marketonline lending sector as a whole has faced new scrutiny in recent months in the
Financial tech startups compete for overlooked US immigrant market
The Economic Times / Posted 7 days ago
online lending sector as a whole has faced new scrutiny in recent months in the wake of scandals at industry leader Lending Club. But Lendup says its customer base of half a million borrowers is growing at 15 percent per month. The company... Read more
2 related stories
7d
The Financial Express
Perils of greed in peer-to-peer marketplaces; India must enforce stringent business disciplineNotable players in the consumer segment include Avant, Borro, Better Finance, F
Perils of greed in peer-to-peer marketplaces; India must enforce stringent business discipline
The Financial Express / Posted 7 days ago
Notable players in the consumer segment include Avant, Borro, Better Finance, FreedomPlus, Lending Club LendUp, Payoff, Peerform, Upstart and Zopa. The small business segment includes players like Bitbond, Bizfi, CAN Capital, Prodigy, Kabbage,... Read more
6 related stories
7d
Fortune
Deloitte: Big Banks Have Nothing to Fear from Piping Hot FinTech Upstartspaper doesn’t go into detail about individual companies, although it mentions s
Deloitte: Big Banks Have Nothing to Fear from Piping Hot FinTech Upstarts
Fortune / Posted 7 days ago
paper doesn’t go into detail about individual companies, although it mentions several in passing like Prosper, OnDeck, and Lending Club among the new crop of lenders, and J.P. Morgan Chase jpm and Citigroup c in the incumbent camp. (It’s worth... Read more
3 related stories
7d
Investopedia
Layoffs Befall Online Lender AvantProsper Marketplace said it was laying off more than a quarter of its staff as
Layoffs Befall Online Lender Avant
Investopedia / Posted 7 days ago
Prosper Marketplace said it was laying off more than a quarter of its staff as a result of a decline in loans. Last week, Lending Club CEO Renauld Laplanche resigned after allegations of improprieties leveled against him by senior executives. Now... Read more
7d
Fortune
Here’s Why Lending Club’s Shares Are SpikingSingapore-based private investment group Shanda Group on Monday said it had bou
Here’s Why Lending Club’s Shares Are Spiking
Fortune / Posted 7 days ago
Singapore-based private investment group Shanda Group on Monday said it had bought an 11.7% stake in Lending Club lc, saying the online lender’s battered stock was an attractive investment. Lending Club shares were up 11.3% at $4.44 in midday... Read more
5 related stories
7d
Market Watch
Shanda Group buys 11.7% stake in Lending Club, sending shares sharply higherShanda Group has acquired an 11.7% stake in the online lender Lending Club Corp
Shanda Group buys 11.7% stake in Lending Club, sending shares sharply higher
Market Watch / Posted 7 days ago
Shanda Group has acquired an 11.7% stake in the online lender Lending Club Corp. LC, +8.05% according to a filing with the Securities and Exchange Commission. The news sent shares of Lending Club up 6.6% in early trade Monday. Shanda Group is a... Read more
8d
TechCrunch
How will marketplace lending become a mainstream investment asset class?has stopped securitizing the loans from Prosper. Goldman Sachs and Jefferies re
How will marketplace lending become a mainstream investment asset class?
TechCrunch / Posted 8 days ago
has stopped securitizing the loans from Prosper. Goldman Sachs and Jefferies recently stopped buying loan pools from Lending Club. I hope these are just temporary pauses. The first two options are not particularly scalable. And if the... Read more
8d
TechCrunch
The mercurial nature of P2P lendingon theirs for almost 10 years. To overcome the leaders with brute force, i.e. m
The mercurial nature of P2P lending
TechCrunch / Posted 8 days ago
on theirs for almost 10 years. To overcome the leaders with brute force, i.e. marketing budget, will also be difficult: Lending Club has more than $600 million in its accounts, Prosper has more than $100 million and SoFi, less than a year ago,... Read more
3 related stories
10d
Fortune
Here’s Why the Market Has Been Going Nowhereprices. Unicorns Crash: As valuations for number of high-profile startups tumb
Here’s Why the Market Has Been Going Nowhere
Fortune / Posted 10 days ago
prices. Unicorns Crash: As valuations for number of high-profile startups tumbled, Theranos and Zenefits faced challenges to their very existence. Among public companies, Valeant Pharmaceuticals vrx and Lending Club lc also faced existential cri... Read more
10d
The Star
Fintech – disruptive technologyinstitutions. The business had even attracted big names such as Goldman Sachs.
Fintech – disruptive technology
The Star / Posted 10 days ago
institutions. The business had even attracted big names such as Goldman Sachs. The most notable name in this space is Lending Club, which had launched its service as far back as 2007 and became the US’ largest technology IPO in 2014, raising... Read more
10d
Fortune
Lending Club Hires Investment Bank To Help It Raise CashLending Club has hired investment bank Jefferies to help it find investors for
Lending Club Hires Investment Bank To Help It Raise Cash
Fortune / Posted 10 days ago
Lending Club has hired investment bank Jefferies to help it find investors for loan funding, people familiar with the matter said on Friday, as the U.S. online lender seeks to replenish investments after a probe over the sale of some of its loans. A... Read more
4 related stories
10d
Fortune
Online Lender Avant Lays Off 60 Peopledrop since Avant started in 2012. News of the slowdown at Avant follows the cr
Online Lender Avant Lays Off 60 People
Fortune / Posted 10 days ago
drop since Avant started in 2012. News of the slowdown at Avant follows the crisis at its larger competitor, Lending Club, where a scandal over loan sales forced the CEO to resign this month, compounding concerns about the difficult... Read more
10d
Fortune
Embattled Lending Club Seeks Help Finding Investors To Buy Loanssector in August because it was unhappy with the disclosures it was getting on
Embattled Lending Club Seeks Help Finding Investors To Buy Loans
Fortune / Posted 10 days ago
sector in August because it was unhappy with the disclosures it was getting on loans from Prosper, the No 2 player after Lending Club, a source familiar with the situation said. Blackrock also felt that the returns from the loans were not as... Read more
4 related stories
10d
Channel NewsAsia
LendingClub taps Jefferies to seek loan fundingstartup Money360 and former CEO of Eaglewood Capital Management, one of the fir
LendingClub taps Jefferies to seek loan funding
Channel NewsAsia / Posted 10 days ago
startup Money360 and former CEO of Eaglewood Capital Management, one of the first institutional firms to securitize Lending Club loans. “The pendulum, I think, will shift back to the buyer.” (Reporting by Olivia Oran, Joy Wiltermuth and... Read more
4 related stories
10d
Channel NewsAsia
Citigroup declined to support Lending Club: MemoNEW YORK (IFR) - Citigroup told US regulators last week it was not willing to s
Citigroup declined to support Lending Club: Memo
Channel NewsAsia / Posted 10 days ago
NEW YORK (IFR) - Citigroup told US regulators last week it was not willing to support troubled marketplace lender Lending Club after its CEO stepped down following a botched sale of loans. In a May 12 memo seen by IFR, Citigroup said it had declined... Read more
4 related stories
10d
Reuters
Citigroup declined to support Lending Club - memoA woman looks at her phone as she passes by a Lending Club banner on the facade
Citigroup declined to support Lending Club - memo
Reuters / Posted 10 days ago
A woman looks at her phone as she passes by a Lending Club banner on the facade of the the New York Stock Exchange December 11, 2014. NEW YORK (IFR) - Citigroup told US regulators last week it was not willing to support troubled marketplace lender... Read more
4 related stories
10d
Crain's Chicago Business
Avant lays off nearly 60 as it scraps new product launchesin the U.S. and the U.K., CEO Al Goldstein confirmed yesterday. The moves foll
Avant lays off nearly 60 as it scraps new product launches
Crain's Chicago Business / Posted 10 days ago
in the U.S. and the U.K., CEO Al Goldstein confirmed yesterday. The moves follow a meltdown at San Francisco-based Lending Club, one of the biggest players in the unregulated consumer lending industry that has taken the financial world by... Read more
11d
TechCrunch
Tally raises $15 million for app to make credit cards less expensive, easier to managethe finance industry. As a firm, Shasta shied away from investing in alternati
Tally raises $15 million for app to make credit cards less expensive, easier to manage
TechCrunch / Posted 11 days ago
the finance industry. As a firm, Shasta shied away from investing in alternative, or peer-to-peer lending platforms like Lending Club and Prosper, which are now under scrutiny and facing serious growth challenges. Flynn said Tally seemed... Read more
11d
TechCrunch
Tally raises $15 million for app to make credit cards less expensive, easier to managethe finance industry. As a firm Shasta, shied away from investing in alternati
Tally raises $15 million for app to make credit cards less expensive, easier to manage
TechCrunch / Posted 11 days ago
the finance industry. As a firm Shasta, shied away from investing in alternative, or peer-to-peer lending platforms like Lending Club and Prosper, which are now under scrutiny and facing serious growth challenges. Flynn said Tally seemed... Read more
12d
The Register
SEC warns cybersecurity is biggest threat to financial systemadvice and marketplace lending. Just one month later, the CEO of the largest m
SEC warns cybersecurity is biggest threat to financial system
The Register / Posted 12 days ago
advice and marketplace lending. Just one month later, the CEO of the largest marketplace lending company in the country, Lending Club, was fired after an internal investigation revealed poor business practices and dubious policies, including the... Read more
12d
Fortune
Lending Club Is Cutting its Internship ProgramLoan provider Lending Club lc just announced it’s axing its 10-week summer inte
Lending Club Is Cutting its Internship Program
Fortune / Posted 12 days ago
Loan provider Lending Club lc just announced it’s axing its 10-week summer internship program. The move comes as the company’s been struggling to hold onto investors for its loans. Additionally, Lending Club’s CEO Renaud Laplanche was forced to... Read more
12d
Zero Hedge
What You Missed In Lending Club's Shocking 10-Qto those stock awards by the time they try to exercise them. Common stockholde
What You Missed In Lending Club's Shocking 10-Q
Zero Hedge / Posted 12 days ago
to those stock awards by the time they try to exercise them. Common stockholder's line starts here: X All going to plan. Lending Club sounds like a lame junior-high after-school activity. You don't get extra credit, but you learn about the... Read more
12d
Fortune
NY Regulator Subpoenas LendingClub Over Loan PracticesNew York state’s financial regulator subpoenaed Lending Club Corp lc on Wednesd
NY Regulator Subpoenas LendingClub Over Loan Practices
Fortune / Posted 12 days ago
New York state’s financial regulator subpoenaed Lending Club Corp lc on Wednesday over its business practices related to interest rates and fees charged to New Yorkers, a person familiar with the matter said. The move by the New York Department of... Read more
3 related stories
12d
FOX Business
N.Y. Regulator Subpoenas LendingClub Over Interest rates, FeesNew York state's financial regulator subpoenaed Lending Club Corp on Wednesday
N.Y. Regulator Subpoenas LendingClub Over Interest rates, Fees
FOX Business / Posted 12 days ago
New York state's financial regulator subpoenaed Lending Club Corp on Wednesday over its business practices related to interest rates and fees charged to New Yorkers, a person familiar with the matter said. The move by the New York Department of... Read more
3 related stories
12d
FOX Business
N.Y. Regulator Subpoenas LendingClub Over Interest rates, FeesNew York state's financial regulator subpoenaed Lending Club Corp on Wednesday
N.Y. Regulator Subpoenas LendingClub Over Interest rates, Fees
FOX Business / Posted 12 days ago
New York state's financial regulator subpoenaed Lending Club Corp on Wednesday over its business practices related to interest rates and fees charged to New Yorkers, a person familiar with the matter said. Continue Reading Below The move by the New... Read more
3 related stories
12d
Channel NewsAsia
N.Y. regulator subpoenas LendingClub over interest rates, feesREUTERS: New York state's financial regulator subpoenaed Lending Club Corp on W
N.Y. regulator subpoenas LendingClub over interest rates, fees
Channel NewsAsia / Posted 12 days ago
REUTERS: New York state's financial regulator subpoenaed Lending Club Corp on Wednesday over its business practices related to interest rates and fees charged to New Yorkers, a person familiar with the matter said. The move by the New York... Read more
3 related stories
13d
TribLIVE
Roundup: Fed’s Williams, Lockhart expect at least two rate hikes in 2016; Mylan delays tender offer for Meda shares; moreCEO Renaud Laplanche being interviewed on TV after his company's IPO on the New
Roundup: Fed’s Williams, Lockhart expect at least two rate hikes in 2016; Mylan delays tender offer for Meda shares; more
TribLIVE / Posted 13 days ago
CEO Renaud Laplanche being interviewed on TV after his company's IPO on the New York Stock Exchange in New York. Shares of Lending Club tumbled May 17, 2016, after the online loan broker disclosed an investigation by the Justice Department into the... Read more
13d
Chattanooga Times Free Press
Personal Finance: Crowdfunding -- investment wisdom of crowdsfree products. Meanwhile, a profit-oriented cousin called debt-based crowdfund
Personal Finance: Crowdfunding -- investment wisdom of crowds
Chattanooga Times Free Press / Posted 13 days ago
free products. Meanwhile, a profit-oriented cousin called debt-based crowdfunding was rapidly developing. Platforms like Lending Club and Prosper collected a fee to connect borrowers seeking loans with individuals willing to lend small amounts at... Read more
13d
TechCrunch
For online lenders, it’s suddenly touch-goforward to today, and it’s online lenders who suddenly look like sitting ducks.
For online lenders, it’s suddenly touch-go
TechCrunch / Posted 13 days ago
forward to today, and it’s online lenders who suddenly look like sitting ducks. In an SEC filing yesterday, Lending Club, which announced the surprise departure of its founder and CEO last Monday, revealed that investors who... Read more
13d
USA Today
LendingClub's travails could cast long shadow on industryhope, and think, this is an isolated incident and not indicative of the entire
LendingClub's travails could cast long shadow on industry
USA Today / Posted 13 days ago
hope, and think, this is an isolated incident and not indicative of the entire industry," said Peter Renton, author of The Lending Club Story and co-founder of LendIt, a community for peer-to-peer lending. "But the industry seems to be punished for... Read more
6 related stories
13d
TechCrunch
For online lenders, it’s suddenly touch-goforward to today, and it’s online lenders who suddenly look like sitting ducks.
For online lenders, it’s suddenly touch-go
TechCrunch / Posted 13 days ago
forward to today, and it’s online lenders who suddenly look like sitting ducks. In an SEC filing yesterday, Lending Club, which announced the surprise departure of its founder and CEO last Monday, revealed that investors who... Read more
13d
Channel NewsAsia
US stocks tumble as Fed rate hike expectations riseHowever, analysts said the good news was already built into the stock's lofty v
US stocks tumble as Fed rate hike expectations rise
Channel NewsAsia / Posted 13 days ago
However, analysts said the good news was already built into the stock's lofty valuation. Peer-to-peer finance company Lending Club sank 8.6 per cent after disclosing that it faces government probes into the sudden departure of Renaud Laplanche... Read more
13d
The Mercury News
Lending Club CEO departure leads to DOJ investigationSAN FRANCISCO -- For online loan marketplace Lending Club, the woes just contin
Lending Club CEO departure leads to DOJ investigation
The Mercury News / Posted 13 days ago
SAN FRANCISCO -- For online loan marketplace Lending Club, the woes just continue to grow. Barely a week after company founder and Chief Executive Renaud Laplanche unexpectedly resigned, Lending Club has found itself subject to a Department of... Read more
36 related stories
13d
San Francisco Chronicle
Lending Club stock drops as DOJ launches investigationEmbattled Lending Club disclosed late Monday that it has received a grand jury
Lending Club stock drops as DOJ launches investigation
San Francisco Chronicle / Posted 13 days ago
Embattled Lending Club disclosed late Monday that it has received a grand jury subpoena from the U.S. Department of Justice over issues related to the ouster of its former chief executive and chairman Renaud Laplanche on May 9. The company, which... Read more
36 related stories
13d
Los Angeles Times
Lending Club faces Justice Department investigation, and its shares slumplikely may need to use a greater amount of its own capital to purchase loans on
Lending Club faces Justice Department investigation, and its shares slump
Los Angeles Times / Posted 13 days ago
likely may need to use a greater amount of its own capital to purchase loans on its platform compared to prior periods.” Lending Club is a peer-to-peer lender, meaning it matches people and businesses that need loans with those who want to... Read more
36 related stories
14d
Zero Hedge
May 17opening up a new front in an already tense relationship with Washington over di
May 17
Zero Hedge / Posted 14 days ago
opening up a new front in an already tense relationship with Washington over digital security. (http://nyti.ms/1TFHHsF) - Lending Club, which serves as an online matchmaker between small-business borrowers and individual and institutional lenders,... Read more
14d
Business Insider
LendingClub, the US posterchild of online lending, is in a life-threatening crisis — here's what you need to knowLendingClub, chairman John Mack, and Laplanche are all investors in Cirrix acco
LendingClub, the US posterchild of online lending, is in a life-threatening crisis — here's what you need to know
Business Insider / Posted 14 days ago
LendingClub, chairman John Mack, and Laplanche are all investors in Cirrix according to Bloomberg. Cirrix is now helping Lending Club with emergency funding. LendingClub claims to take no credit risk itself but it clearly has some exposure to... Read more
6 related stories
14d
Fortune
There Could Be a Bubble in These Real Estate Marketssmall business loans on to investors—has been rattled this month by the resigna
There Could Be a Bubble in These Real Estate Markets
Fortune / Posted 14 days ago
small business loans on to investors—has been rattled this month by the resignation of the founder and chief executive of Lending Club over alterations to the wording of some of the company’s loans. Some institutional investors, a key source of... Read more
14d
Channel NewsAsia
Lending Club under probe by US Justice Department, receives subpoenaREUTERS: The U.S. Department of Justice has opened an investigation of Lending
Lending Club under probe by US Justice Department, receives subpoena
Channel NewsAsia / Posted 14 days ago
REUTERS: The U.S. Department of Justice has opened an investigation of Lending Club Corp , the online lender whose chief executive, Renaud Laplanche, was forced out last week after an internal probe found the company had falsified documentation when... Read more
36 related stories
14d
WLTX-TV Columbia
Lending Club says it's received Justice Dept. subpoenaShares of peer-to-peer lending operator Lending Club (LC) dropped sharply late
Lending Club says it's received Justice Dept. subpoena
WLTX-TV Columbia / Posted 14 days ago
Shares of peer-to-peer lending operator Lending Club (LC) dropped sharply late Monday following the company’s disclosure it has received a federal subpoena and expects to be sued after founder and CEO Renaud Laplanche resigned over an internal probe... Read more
36 related stories
14d
WLBZ Bangor
Lending Club says it's received Justice Dept. subpoenaShares of peer-to-peer lending operator Lending Club (LC) dropped sharply late
Lending Club says it's received Justice Dept. subpoena
WLBZ Bangor / Posted 14 days ago
Shares of peer-to-peer lending operator Lending Club (LC) dropped sharply late Monday following the company’s disclosure it has received a federal subpoena and expects to be sued after founder and CEO Renaud Laplanche resigned over an internal probe... Read more
36 related stories
14d
WZZM 13 Grand Rapids
Lending Club says it's received Justice Dept. subpoenaShares of peer-to-peer lending operator Lending Club (LC) dropped sharply late
Lending Club says it's received Justice Dept. subpoena
WZZM 13 Grand Rapids / Posted 14 days ago
Shares of peer-to-peer lending operator Lending Club (LC) dropped sharply late Monday following the company’s disclosure it has received a federal subpoena and expects to be sued after founder and CEO Renaud Laplanche resigned over an internal probe... Read more
36 related stories
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