Treasury calls for new regulations for online lenders

NEW YORK (AP) — The Treasury Department called for additional oversight and some increased regulations for the online lending industry on Tuesday, the first time a government agency has weighed in on this quickly growing, but largely unregulated, part of the financial world.
It also comes at a time when the biggest online lending company, LendingClub, is under scrutiny from investors after the company altered a portfolio of sketchy loans in order to sell them to an investor. The scandal fo