LendingClub Corp. climbed the most in more than a year after the company was said to be in talks with Citigroup Inc. to have the bank purchase more debt generated through the online lending marketplace. Shares of LendingClub jumped as much a 17 percent in New York, the most intraday since December 2014. The stock […]
Some of Wall Street’s biggest banks are making contingency plans to cut their exposure to online consumer loans if the market deteriorates further after the recent crisis at LendingClub Corp., people with knowledge of the reviews said. While firms including Credit Suisse Group AG and Deutsche Bank AG haven’t scaled back exposure, they’re concerned about […]
New York state’s financial regulator, which recently launched a probe into LendingClub Corp, 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 Wednesday. The New York Department of Financial Services (NYDFS) has not yet established which […]
In May of last year, Renaud Laplanche, the head of a fast-growing fintech company that had five months earlier listed on the New York Stock Exchange at a valuation of almost $9 billion, hosted a gaggle of clients and journalists aboard a state-of-the-art trimaran. LendingClub Corp.’s guests were treated to a windswept tour of the Hudson River, as well as LendingClub-branded […]