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MAY 10, 2016 - Yahoo! News

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Lending Club CEO resigns after internal probe, shares plummet

By Michael Erman and Joy Wiltermuth (Reuters/IFR) - Renaud Laplanche, founder and chief executive of online lender Lending Club Corp, resigned after an internal probe found that the company had knowingly sold an investor $22 million of loans that the investor did not want, the company said on Monday. Lending Club is by far the largest of the so-called marketplace ...

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MAY 10, 2016 - Business Insider

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The CEO of fintech company Lending Club is stepping down, and that sent the stock crashing (LC)

Lending Club CEO Renaud Laplanche is stepping down from his position with the company after an internal review. Shortly after markets opened Monday morning shares of the company were down as much as 26%.  In a statement Monday morning, Lending Club said Laplanche would step down after "an internal review of sales of $22 million in near-prime loans to a ...

Tags: The CEO of fintech company Lending Club is stepping down, and that sent the stock crashing (LC),  Lending Latest News

MAY 10, 2016 - Seattle Times

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CEO forced out after Lending Club uncovers loan-sale violations

Renaud Laplanche resigned after an internal review uncovered a violation of the company’s practices.

Tags: CEO forced out after Lending Club uncovers loan-sale violations,  Lending Latest News

MAY 10, 2016 - Los Angeles Times

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As trouble piles up, online lenders pull back

A tough few months for online lenders got even more difficult Monday with the resignation of one of the industry's leading figures, a development that adds to already considerable uncertainty for the business. Lending Club, the San Francisco firm that's become the largest of a new class of so-called...

Tags: As trouble piles up, online lenders pull back,  Lending Latest News

MAY 10, 2016 - New York Times

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As Lending Club Stumbles, Its Entire Industry Faces Skepticism

As a wider reckoning sweeps Silicon Valley, investors and analysts are taking a more searching look at the peer-to-peer lending model.

Tags: As Lending Club Stumbles, Its Entire Industry Faces Skepticism,  Lending Latest News