[$$] Good Management Will Preserve LendingClub

I am quoted in the article “Online Loan Pioneer Boomed, Then Tripped” (page one, May 17), but everything I said wasn’t published. No one should jump to conclusions about LendingClub LC 10.07 % without having all the relevant facts. LendingClub retains quality management, and it appears the board exercises appropriate oversight that we believe should allow it to handle its challenges. Naturally, such news has been amplified because marketplace lending is a new industry. We are confident, however, that both LendingClub and marketplace lenders’ response to these recent events will make the industry stronger in the long run.

Gilles Gade

CEO

Cross River Bank

Teaneck, N.J.


Yahoo! Finance: Credit Services Industry News

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