LendingClub founder and chief executive Renaud Laplanche has resigned after a US$22 million sale of loans to an investor violated the company's business principles because it was found to have contravened the investor's instructions, Bloomberg reports. LendingClub is one of the largest marketplace lenders in the United States. Three other managers involved in the sale of the loans have also resigned, as part of remediation the company is undertaking. Lenders backing the cab trade in New York and some other US cities are seeing the disruption caused by Uber, Lyft and other ride sharing apps move beyond the taxi stands, reports the Financial Times. Taxis in New York are required to have licences, known as medallions, to pick up passengers. Only three years ago, these traded at more than US$1 million each. Some are now for sale for as little as $500,000, the FT.com notes, pointing to a spike in delinquencies at, for instance, the $2 billion Melrose Credit Union ($371 million by the end of March, from $155 million at the end of December) and at the smaller taxi financier Lomto, where troubled loans tripled from $6.4 million to $22.4 million during the first quarter of 2016.