The international face of the revolutionary online peer-to-peer lending model has abruptly quit in controversy as the chief executive of Lending Club, casting a pall over the disruptive fintech business trying to upend banks.
Co-founder Renaud Laplanche resigned as chairman and chief executive of San Francisco-based Lending Club on Monday, after an internal review found the sale of $US22 million of loans to an investor contravened the investor's express instructions.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
