Lending Club Chairman & CEO Laplanche resigns
Lending Club said May 9 that it accepted the resignation of its Chairman and CEO Renaud Laplanche. Scott Sanborn will continue in his role of President and will become acting CEO. Hans Morris, a Lending Club director, has assumed the newly created role of Executive Chairman. Lending Club said Laplanche’s resignation followed an internal review of sales of $22 million in near-prime loans to a single investor, in contravention of the investor's express instructions as to a non-credit and non-pricing element, in March and April 2016.
9 May 2016•10 mins read
