May
18
LendingClub Said to Be Subpoenaed by New York Over Loans
By-
Bank regulator seeks documents on business deals with lenders
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State investigation adds to federal probes into company
New York’s bank regulator is investigating LendingClub Corp. over loans issued to consumers and its relationships with financial institutions, according to a person familiar with the matter, saddling the embattled company with another probe after its chief executive was forced to resign earlier this month.
New York’s Department of Financial Services issued a subpoena Tuesday to LendingClub seeking information about its business model as well as about agreements between the company and banks, including Salt Lake City-based WebBank, said the person, who asked not to be named because the investigation is confidential…
LendingClub Said to Be Subpoenaed by New York Over Loans
