The accountant has done a deep dive on the online lending industry, and its conclusions are devastating reading for anyone connected to the sector.
How long does the average customer remember a corporate compliance scandal?
The meteoric rise of e-lending platforms attracted a lot of interest among investors and entrepreneurs. Lending Club and OnDeck have already become public.
Social Finance, known as SoFi, for the first time received the highest possible credit rating from Moody’s on a new bond deal.
Lending Club is a public company and therefore, discloses more detailed information than the private lending marketplaces like Prosper.
John Mack, a crisp, red windbreaker over his business suit, climbed the dais at the New York Stock Exchange to hail the coming revolution.
Lending Club received a Department of Justice grand jury subpoena on May 9th, according to the company’s quarterly earnings report, the same day that the resignation of their iconic CEO was announced.
After a very difficult first quarter, it’s time to reevaluate the online marketplace model.