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LendingClub shows limits of fintech disruption

Lending Club executives celebrate with company executives during the company’s IPO at the New York Stock Exchange, Dec. 11, 2014.
Brendan McDermid | Reuters
Lending Club executives celebrate with company executives during the company’s IPO at the New York Stock Exchange, Dec. 11, 2014.

LendingClub has just become Exhibit A showing why fintech can't disrupt everything about banking. Renaud Laplanche, the company's founder, chairman and chief executive, has resigned after an internal probe, the biggest alternative lender said on Monday. Financial-technology firms are learning what old-school rivals already know: that some rules and habits are not meant to be broken.