Lessons for online lending

NPR reports today:

There is a scandal rocking the financial industry — or we should say, a small but important part of that industry: online lending.

Lending Club — one of the first companies to directly connect borrowers and investors online — is in boiling-hot water. Investors were lied to, and the CEO resigned. Industry insiders are disputing what the real lessons of the scandal are.

Lesson 1: Oversight Is Essential ….

Lesson 2: Skin In The Game ….

Read the full NPR story here.

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