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New York financial regulator gearing up to probe online lenders - source
New York state's financial regulator, which recently launched a probe into LendingClub Corp, is preparing to look into the activities at other online lenders and whether they should be licensed in New York, a person familiar with the matter said on Wednesday. The New York Department of Financial Services (NYDFS) has not yet established which companies it may target, but information it receives in response to a May 17 subpoena sent to LendingClub, one of the largest online lending services, could shed light on broader industry practices that require scrutiny, said the person, who was not authorized to discuss the ... (full story)