Lending Club has been charged by the Federal Trade Commission with deceiving customers by promising "no hidden fees" and then taking money from their accounts without authorisation.
A survey of small business credit published by the Federal Reserve Bank of New York has revealed that online lenders are less popular with small and medium enterprises (SMEs) than big banks.
A year after being forced out of Lending Club, the firm's founder Renaud Laplanche is back with a new online lending platform and $60 million in financing.
Investors in the peer to peer (P2P) lending sector have seen their returns suffer due to a high rate of borrower defaults among start-ups, reports the Wall Street Journal (WSJ).
Lending Club (LC), the world's largest online marketplace connecting borrowers and investors, today announced the launch of an auto refinance product that gives car owners a simple solution to save money on their auto loans.
Lending Club (LC), the world's largest online marketplace connecting borrowers and investors, today announced a series of leadership changes.
Lending Club (LC), the world's largest online marketplace connecting borrowers and investors, announced today that Patrick Dunne has joined Lending Club as Chief Capital Officer.
Troubled marketplace lender Lending Club has appointed a new CEO and announced plans to axe 179 jobs - representing 12% of its workforce - as it bids to revive its fortunes following a turbulent two months.
Former Lending Club CEO Renaud Laplanche, who was forced out of the company last month over a loans sale scandal, has been speaking to private equity firms and banks about raising money for a possible buyout of the online lender he co-founded, according to Reuters.
Lending Club's woes continue, with New York state's financial services regulator joining the Justice Department in investigating the online loan marketplace, according to the Wall Street Journal.
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