CircleBack and Jefferies deal heats up banks vs P2P debate

Fledgling US peer-to-peer lender CircleBack Lending has teamed up with Jefferies, under a $500m agreement that will see the investment bank acquire and securitize CircleBack’s loans for sale to institutional investors. The deal signals the start of CircleBack’s expansion and raises questions about banks’ future involvement in the nascent peer-to-peer market.