May
16

Lending Club, Already Troubled, Receives Justice Dept. Subpoena

By

Still reeling from revelations that forced the resignation of its founder and chief executive, Lending Club said on Monday that it had received a subpoena from the Justice Department.

The company, which serves as an online matchmaker between small-business borrowers and individual and institutional lenders, disclosed the grand jury subpoena in a regulatory filing, saying it intended to cooperate with the federal investigation.

A week ago, Lending Club, which is based in San Francisco, revealed that its founder and chief, Renaud Laplanche, had resigned after an internal investigation discovered fabrications in about $3 million of loan applications…

Lending Club, Already Troubled, Receives Justice Dept. Subpoena

Share
Categories : Uncategorized

Leave a Reply

You must be logged in to post a comment.