LendingClub Tries to Reassure Investors as Bond Deals Stall
- Some loan buyers said to weigh reducing, delaying purchases
- ‘The more we learn, the less we understand,’ analyst says
Is LendingClub a Warning on Peer-to-Peer Lending?
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Questions swirling around LendingClub Corp.’s leadership shakeup this week are threatening to compound a concern already weighing on its stock: Will investors keep snapping up its loans?
In interviews, people in the business of buying debts from its platform said Tuesday the company hasn’t adequately explained what prompted the management shuffle, causing some to consider scaling back or delaying purchases. Separately, Jefferies Group and Goldman Sachs Group Inc. are holding off, at least temporarily, on buying LendingClub loans they planned to bundle into new securities, people with knowledge of that situation said.