Embattled US marketplace lender Lending Club is in more trouble, Reuters reports. The company's founder and chief executive Renaud Laplanche resigned in May following a scandal involving tampering with loan documents. Now the company has lost chief financial officer Carrie Dolan and it has reported its largest quarterly loss in a year. The company has had trouble attracting loan investors since the tampering scandal and has laid off 179 staff. According to Reuters, the whole US marketplace lending industry is struggling to maintain investor support in the face of rising defaults and the threat of tougher regulation. Barclays has reached a US$100 million settlement with 44 states of the United States over charges that it manipulated the Libor and Euribor interest rate benchmarks. CNBC reports that Barclays is one of a number of banks facing similar charges in the US and the first to reach a settlement. New York Attorney General Eric Schneiderman said government bodies and non-profit organisations were "defrauded of millions" when they entered into swap contracts with Barclays. In 2012 Barclays paid US$453 in a settlement with the US Justice Department, the Commodity Futures Trading Commission and British authorities over parallel charges. China's ballooning toxic debt problem has seen trust firms, brokerages and private investors lured into picking up distressed assets from banks, which are trying to whittle down sour loans, with discounts as low as 32 per cent of their original value, "a source" told online news service Caixin. Local asset management companies, as the entities set up to absorb these bad bank loans are known, expect to earn big returns when asset values rebound. However, the lack of transparency on these loans has fuelled a lingering suspicion that local AMCs are being used by debt dodgers with close links to regional governments to avoid repayment. A new SWIFT Institute research report highlights the "duality" between laws that seek to use data to protect the financial system and laws that seek to protect data privacy. According to the study, the European Union's Anti-Money Laundering Directive requires enterprise-wide data protection within anti-money laundering and counter-terrorism finance operations across a multinational financial institution, while US law does not. This creates regulatory risk. The report notes that, in the US, data is typically the property of the entity that possesses it (a bank, for example), whilst in the EU's rule-based privacy regime data ownership belongs to the individual as a human right.