LC - LendingClub

LendingClub Corporation, together with its subsidiaries, operates as an online marketplace that connects borrowers and investors in the United States. Its marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, super prime consumer loans, unsecured education and patient finance loans, and unsecured small business loans. The company also offers investors an opportunity to invest in a range of loans based on term and credit characteristics. It serves investors, such as retail investors, high-net-worth individuals and family offices, banks and finance companies, insurance companies, hedge funds, foundations, pension plans, and university endowments. LendingClub Corporation was founded in 2006 and is headquartered in San Francisco, California.

 

LendingClub CEO resigns after internal probe, stock tanks

LendingClub Corp. founder Renaud Laplanche resigned as CEO and chairman Monday after an internal probe into $22 million in loans that also resulted in termination or resignation of three other senior managers.

The San Francisco-based peer-to-peer lender's stock (NYSE:LC), which was already trading at less than half of its December 2014 IPO price of $15, plunged over 20 percent more on the news to as low as $5.22 in early trading.

 

I keep getting junk mail from Lending Club. I have no idea how I got on their list, but that sure do have a big budget for mailers!

 

I get so much mail from these guys, there is probably some big media promotion going on.