LendingClub CEO Resigns After Internal Review on Loans

The video discusses the recent challenges faced by Lending Club, including a sudden market reaction and internal review findings. It highlights the regulatory scrutiny on alternative lenders and the competitive landscape among online lending platforms. The discussion also touches on the implications for creditworthiness and the potential for further regulatory actions.

What was the initial reaction of the market to Lending Club's recent developments?

• The market was optimistic about future growth.

• The market was indifferent to the news.

• The market reacted negatively to the developments.

• The market was unaware of the changes.

Who was the investor involved in the $22 million loan issue with Lending Club?

• Goldman Sachs

• Jeffries

• Bank of America

• Morgan Stanley

What was the nature of the review conducted by Lending Club regarding the loan issue?

• An external audit by a third party

• A routine financial audit

• An internal review by the company

• A regulatory investigation

What is a significant challenge faced by online lending platforms according to the transcript?

• Lack of technological innovation

• High competition for the same borrowers

• Excessive regulatory support

• Limited access to venture capital

What has been the impact on the creditworthiness of borrowers in the online lending space?

• Creditworthiness is not a concern.

• Creditworthiness has declined.

• Creditworthiness has remained stable.

• Creditworthiness has improved significantly.