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Peer2Peer Finance News | August 20, 2017

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Renaud Laplanche

LendingClub shakes off governance troubles with loanbook and revenue boost

August 8, 2017 |

US PEER-TO-PEER giant LendingClub seems to have shaken off the corporate governance scandal that hit the platform last year as it saw its loan book grow 10 per cent in the second quarter.

LendingClub reported that loan originations for the … Read More

LendingClub’s Laplanche must face shareholder lawsuit

May 26, 2017 |

LENDINGCLUB founder Renaud Laplanche’s efforts to dismiss shareholder lawsuits have been rejected by a federal judge.

Investors in the US peer-to-peer lending giant had accused the former chief executive of concealing material weaknesses in LendingClub’s ability to monitor its operations, … Read More

Lending Club names ex-PayPal exec Steve Allocca as president

May 16, 2017 |

LENDING Club has hired Steve Allocca (pictured) as its new president.

The US peer-to-peer lending giant, which is slowly rising out of the ashes of last year’s corporate governance scandal, said that Allocca would lead the company’s efforts to expand … Read More

LendingClub founder Laplanche launches new platform

April 7, 2017 |

FORMER LendingClub boss Renaud Laplanche has launched online consumer finance provider Upgrade, his third foray into the US peer-to-peer lending sector after participating in its largest governance scandal to date.

His new San Francisco-based company has raised $60m (£48.3m) in equity and convertible … Read More

Lending Club losses increase after tough 2016

February 15, 2017 |

US peer-to-peer giant Lending Club made a loss for the third year in a row in 2016, despite new loans picking up slightly in the fourth quarter.

The platform, which saw its founder and chief executive Renaud Laplanche resign last … Read More

A look back – the key P2P events of 2016

January 4, 2017 |

NO-ONE could have predicted half of the events which 2016 had in store for the peer-to-peer lending sector.

Company scandals, international trials, unexpected elections and evolving regulations made for an interesting year, and contributed towards the stunning growth of the … Read More

Now Lending Club’s CTO has resigned

December 16, 2016 |

SCANDAL-HIT US peer-to-peer platform Lending Club has been dealt a new blow with the resignation of its chief technology officer John MacIlwaine.

According to an 8K filing at the US Securities and Exchange Commission (SEC), MacIlwaine submitted his resignation on … Read More

Lending Club still in the red as scandal takes its toll

November 7, 2016 |

LENDING Club posted a third-quarter loss of $36.5m (£29.4m), as the high-profile scandal that led to the departure of its founder continues to hammer the firm’s balance sheet.

The US peer-to-peer lender, which hit the headlines earlier this year … Read More

Lending Club’s former CEO investigated over share buyback

October 5, 2016 |

RENAUD Laplanche is being investigated by the U.S. Securities and Exchange Commission (SEC) over his role in Lending Club’s $150m (£118m) share buyback.

Sources have told Bloomberg that the SEC is looking into allegations that Laplanche encouraged the US peer-to-peer platform to … Read More

RiverNorth launches P2P fund

September 29, 2016 |

RIVERNORTH Capital Management today said it has launched a fund dedicated to peer-to-peer lending, in a sign that US investor sentiment is improving towards the sector after the Lending Club scandal.

The Chicago-based investment firm’s new fund, called RiverNorth Marketplace … Read More