Former Social Finance boss Mike Cagney and erstwhile LendingClub Chief Executive Renaud Laplanche are each back with new loan ventures after losing their jobs to scandals.
Between them, both men created what are now the two largest fintech lenders, having originated or facilitated some $63 billion between them in the past few years. That took vision and persistence. But they soon marred their records. Laplanche was forced out in May 2016 after a $22 million loan mis-selling scandal on his watch. The resulting internal investigation encountered a “lack of
https://www.breakingviews.com/considered-view/fintech-outcasts-get-second-life-in-silicon-valley/
