LendingClub shares rose 6 percent in Wednesday's premarket after the company announced tighter lending practices and word surfaced that ousted CEO Renaud Laplanche may be planning a takeover.
Reuters, citing people familiar with the matter, reported Tuesday that Laplanche has been in talks with private equity firms and banks about a potential buyout of the peer-to-peer lending company.
Laplanche was ousted last month after an internal investigation revealed staff knowingly sold $22 million in loans in March and April that did not meet the buyer's requirements.
The company said Tuesday it was cutting back on riskier loans and raising interest rates in an effort to make the company more attractive to investors. LendingClub expects loan volume to decrease by about 5 percent because of the new policy.