I am doing some research on the peer-to-peer business model.
When looking at Lending Club, I was wondering what the legal framework model is for them.
To be more specific, how are they set up as a company? How do they manage the lenders' money and how do they interact for loan repayment, commissions, etc...? How is the lender's money transferred to the borrower? I guess not through the Lending Club company, for reasons of risk.