Lending Club Hires Investment Bank To Help It Raise Cash

Lending Club has hired investment bank Jefferies to help it find investors for loan funding, people familiar with the matter said on Friday, as the U.S. online lender seeks to replenish investments after a probe over the sale of some of its loans.

A number of Lending Club’s largest investors have halted purchases of its loans, the company said in a quarterly filing this week, after an internal company probe found it had falsified documentation when selling a $22 million package of loans to...

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