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By Peter Rudegeair Online lender LendingClub Corp. unveiled new responses to a slump in its business Tuesday, restricting investors from exiting from one of its funds and announcing job cuts totaling 12% of its workforce. The San Francisco company disclosed the changes, as well as new issues it has discovered related to its former chief executive, in regulatory filings and an investor letter reviewed by The Wall Street Journal. Separately...

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By Kevin Wack That Lending Club’s battered shares climbed on a day when the online lender reported a slew of bad news — including mass layoffs and sharply reduced growth projections — is partially a reflection of just how far its stock has fallen over the last 18 months. But investors also seem to be betting that Lending Club’s worst days are behind it. That seemed to be the message Lending Club executives were aiming to send...

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Brendan Ross of Direct Lending Investments explains how he makes small business loans into an asset class, in this interview with Dominic Chu of CNBC's "Trading Nation."

Watch the full clip on CNBC’s “Trading Nation” and read the follow-up...

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By James Rufus Koren

The gig: Brendan Ross, 42, is founder and chief executive of Direct Lending Investments, a La Cañada-Flintridge hedge fund that invests exclusively in small-business loans made by online lenders.

Early ambition: Ross grew up in Bethesda, Md. He studied economics and sociology...

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