May
09
As Lending Club Stumbles, Its Entire Industry Faces Skepticism
By
Renaud Laplanche, right, the former chief executive of Lending Club, with Jake Siewert, head of communications at Goldman Sachs, in New York Harbor. CreditPiotr Redlinski for The New York Times
Renaud Laplanche and his crew steered a 105-foot racing boat through New York Harbor one day last spring, its towering sails ripping across the water at 30 knots.
An accomplished sailor and founder of Lending Club, Mr. Laplanche was hosting executives from hedge funds, Goldman Sachs and other banks — part of his effort to win over Wall Street on his plans to upend traditional banking with a faster, more democratic form of lending…
As Lending Club Stumbles, Its Entire Industry Faces Skepticism
