LendingClub Is Turning Out to Be Anything But a 'Direct' Lender

An intricate ecosystem of investors is now exposed.
By
Tracy Alloway

SEC Said to Review LendingClub Disclosures

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.

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