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LendingClub talking with Citi about loan purchases

Discussions show one way online platform is looking to reassure investors after forced resignation of CEO

Lending Club banners hang on the facade of the New York Stock Exchange for it's IPO on December 11, 2014
Lending Club banners hang on the facade of the New York Stock Exchange for it's IPO on December 11, 2014 Photo: Getty Images

LendingClub is in talks with Citigroup about the New York bank buying or providing financing for future loans made by the online platform, people familiar with the discussions said.

The talks show one way that LendingClub is seeking to reassure its existing investors while finding new commitments from them to buy loans following the forced resignation of its chief executive, Renaud Laplanche. The resignation came after LendingClub's board discovered that employees had falsified data on some loans sold to an investment bank, Jefferies.

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