Still reeling from revelations that forced the resignation of its founder and chief executive, Lending Club said on Monday that it had received a subpoena from the Justice Department.
The company, which serves as an online matchmaker between small-business borrowers and individual and institutional lenders, disclosed the grand jury subpoena in a regulatory filing, saying it intended to cooperate with the federal investigation.
A week ago, Lending Club, which is based in San Francisco, revealed that its founder and chief, Renaud Laplanche, had resigned after an internal investigation discovered fabrications in about $3 million of loan applications.
Michael Corkery | New York Times