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Blackstone Is Pulling the Plug on Online Consumer Loans

By Tony Seruga

Decision came before LendingClub scandal, according to sources
B2R Finance will continue funding home sales for landlords

Seven months after Blackstone Group LP said it planned to expand into online consumer lending, the firm is pulling back.

Several executives at Blackstone’s B2R Finance, including Chief Executive Officer Jason Hogg, have left as the company reorganized to focus more on its original mission, real estate financing, according to people familiar with the business. The moves were in the works before shares of online lender LendingClub Corp. fell more than 40 percent this week…

Blackstone Is Pulling the Plug on Online Consumer Loans

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