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Lending Club will cease offering Retail Notes as of the end of 2020, signalling a dramatic shift entirely away from the peer to peer (P2P) lending model under which the company was launched. Over the years, the online lender has utilized a marketplace model as more institutional money funded loans originated on the platform with the retail investor becoming a smaller segment of overall lending. The company said "unfortunately, under a prospective banking framework, it is not economically practical for LendingClub to continue to offer Notes." https://help.lendingclub.com/hc/en-us/articles/360050574891-Important-Updates-to-the-LendingClub-Notes-Platform