LendingClub plunges after the FTC charges the online lender with 'deceiving customers'

LendingClub plunged as much as 17 percent on Wednesday after the Federal Trade Commission alleged that the online lender “deceived customers” on its fee structure. LendingClub sold users on loans with “no hidden fees,” but actually collected “hundreds or even thousands of dollars in hidden
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Once heralded as an innovative firm that would disrupt lending, the venture sold shares to the public in 2014 and soon soared to a more-than $10 billion market valuation. But it has struggled with a series of scandals in recent years. In 2016, its founder and then-CEO, Renaud Laplanche, resigned amid
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In a case that drew the attention of bar groups and the land title industry, a state appeals court has declined to recognize a legal malpractice cause of action for failing to advise a property buyer of the importance of homeowner's insurance. The Appellate Division, in its decision Monday in Bianchi v.
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On Monday, GrafTech International's Director, Brian L. Acton, made a $75,000 purchase of EAF, buying 5,000 shares at a cost of $15.00 a piece. Acton was up about 4.9% on the purchase at the high point of today's trading session, with EAF trading as high as $15.73 in trading on Wednesday. GrafTech
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Travis County wants to contribute to a multi-agency study on the area's housing portfolio, gaps and needs. Travis County commissioners on Tuesday approved starting discussions with the city of Austin, the Housing Authority of Travis County and the Travis County Housing Finance Corporation about
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Strata title is a familiar concept for most residential property owners. However, prior to the introduction of the first strata title legislation in New South Wales in 1961, company title was the principal form of residential apartment ownership in apartment buildings. What exactly is Company Title?
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Today, I will be analyzing Reliv' International Inc's (NASDAQ:RELV) recent ownership structure, an important but not-so-popular subject among individual investors. Ownership structure has been found to have an impact on shareholder returns in both short- and long-term. Differences in ownership
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It is divided into two parts, personal funds and public programs, and private financing options, outlined below. The basics: How people pay for long-term care — whether delivered at home or in a hospital, assisted living facility, or nursing home — depends on their financial situation and the kinds of
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Watch our new weekly news show, The Breakdown, for a quick dive into some of the week's most compelling topics by reporters and editors from Fortune, Time, Money, and Sports Illustrated. This week's broadcast includes a discussion of whether Starbucks closing its stores to give employees
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Having held the title for over one year now, WWE fans are generally in agreement that The Beast is finally going to drop the championship on Friday, April … However, should Reigns defeat Lesnar in the Middle East, then the latter will fall short of breaking a 'record' in the WWE which the company would
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“Austin continues to ride the wave of buyer demand into the spring selling season,” said Vaike O'Grady, Austin regional director for Metrostudy, which tracks housing markets locally and nationally. “There's no evidence of any slowing in demand, especially for homes with base prices below $300,000.
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Mortgage rates had another rough day as they continued moving up into new 4-year highs. Unlike the extremely mild and uneventful day-to-day changes seen for most of the past 2 months, rates are actually putting some distance between themselves and the March plateau. Whereas a well-qualified
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The 'Butler 1' robot will be loaded with real estate data and have technology that allows real estate agents who don't speak Mandarin to be able to assist potential Chinese buyers. Juwai CEO Carrie Law said the service would provide better service to Chinese international property buyers. “The robot is
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ATLANTA—The Contract-for-Deed (CFD) home “sale,” a predatory financing practice with a notorious urban history, has reemerged in predominantly black neighborhoods 30 years after federal laws were created to end the practice, according to research by Georgia State University urban policy expert
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BERKELEY HEIGHTS, N.J., April 25, 2018 (GLOBE NEWSWIRE) — Blue Top Capital announced its intent to dramatically scale its model leaseback program to address some of the current capital market inefficiencies hampering the housing market. After closing its $6M inaugural model leaseback
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… by a government-sponsored enterprise, such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), or by the United States Government agency, such as the Government National Mortgage Association (Ginnie Mae) (collectively,
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The Business Record hosted its annual Commercial Real Estate Trends and Issues Forum this morning at the Curate in Des Moines. Five of the region's key real estate professionals provided insight into future hot spots, emerging opportunities, trends and the challenges facing the region's commercial
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The U.S. Supreme Court appeared poised to uphold President Donald Trump's travel ban as two key justices used an argument session to aim skeptical questions at a lawyer challenging the policy. Hearing the last case of its nine-month term Wednesday, the court took its first direct look at a policy that
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Fat Lama, a lending site that lets users rent and lease goods, just raised $10 million for its Series A. The site, which kicked off in the UK two years ago, recently launched its first stateside offering in New York. While Fat Lama typically offers equipment like drones, printers, and cameras, some more
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Well-funded real estate tech company Compass opens Seattle-area offices. by Nat Levy on … Compass has 14 employees working out of a temporary office in Seattle, and the company is teaming up with Seattle-based brokerage Northwest Group Real Estate to offer its products to brokers. Some of its
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