Exclusive: Citigroup Declined To Support Lending Club — Memo

Citigroup told US regulators last week it was not willing to support troubled marketplace lender Lending Club after its CEO stepped down following a botched sale of loans. In a May 12 memo seen by International Financing Review (IFR), Citigroup said it had declined a request from Jefferies, an investment bank, to back Lending Club after CEO Renaud Laplanche resigned three days earlier.

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