Despite Recent Setbacks, Long-term Prognosis for Marketplace Lending Is Strong

Lending Club’s ouster of Chairman and CEO Renaud Laplanche and 35% drop in stock price has rattled the marketplace lending industry. Meanwhile, OnDeck’s price, which opened at $24.15 amid much fanfare in December 2014, dipped to below $5, while Prosper announced dramatic cuts in staffing. It has been a tough week for FinTech.

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