Lending Club

The online consumer lender reported a net loss of $25.4 million, bringing its red ink in the five most recent quarterly reports to more than $200 million.

Sponsoring securitizations of the loans funded on its platform will give LendingClub more control over its reputation in the market and make it less beholden to direct loan buyers.

Two of the biggest online consumer lenders don't always check whether borrowers are lying to them, and if they find errors in an application, they may still approve the loan.

JPMorgan Chase & Co.’s head of new technologies has been hired by Lending Club Corp. as the peer-to-peer lending pioneer seeks to rebuild business following a scandal over its corporate controls.

Much like how Amazon went from selling books to selling cloud services, the online lenders that succeed well into the future will change how they do business, Scott Sanborn said.

The San Francisco online lender reported a $32 million loss in the fourth quarter, which brought red ink for the full year to $146 million.