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Learning, Sharing, and Teaching => Investor Alley => Topic started by: MrUpwardlyMobile on September 29, 2018, 09:21:38 AM

Title: Lending Club - SEC PRESS RELEASE
Post by: MrUpwardlyMobile on September 29, 2018, 09:21:38 AM

I initially posted this buried in another thread talking about lending club but this is really big news that warrants attention.Everything you need to know about lending club straight from the SEC.


https://www.sec.gov/news/press-release/2018-223

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Title: Re: Lending Club - SEC PRESS RELEASE
Post by: MustacheAndaHalf on September 29, 2018, 11:14:53 AM

Seems more like an indictment of the former CEO, rather than Lending Club.  To quote the press release:
"The SEC’s Enforcement Division determined not to recommend charges against LendingClub Corporation, which promptly self-reported its executives’ misconduct following a review initiated by its board of directors, thoroughly remediated, and provided extraordinary cooperation with the agency’s investigation."