More On Lending Club – “No Longer a P2P Lender”

Earlier today we wrote about Lending Club and the abrupt change to their lending policy. Basically for the time being they are not allowing any further p2p (peer-to-peer) loans, only loans made directly with them. I am not sure what amount of funds Lending Club has to lend. I have heard back from CEO Renaud Laplanche and he can’t share anything at this time.

I’ve also noticed some commentary from Lending Club lenders across the net. Here are a couple:

• Scott notes that Lending Club is "no longer peer-to-peer lending"
• Jason Crews is annoyed that he wasn’t informed sooner so he could add more funds to his account to allow for more loans

We will continue to monitor the status and report updates as they become available.