LendingClub Said in Talks With Citigroup for Loan Financing
- Bank could buy loans or arrange financing for others to do so
- Citgroup says it’s ‘productively engaged’ with LendingClub
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LendingClub Corp., the online loan platform looking to restore investor confidence, is in talks with Citigroup Inc. to arrange more funding for the debts it arranges, according to a person with knowledge of the matter.
Citigroup may buy loans or provide financing for others to do so, according to the person, who asked not to be identified discussing the private negotiations. The Wall Street Journal reported the potential deal earlier on Thursday.