Morning Scan: Lending Club's Morgan Stanley Ties; Credit Cards ...

Wall Street Journal

As Columbia Law School professor Robert Jackson noted in an op-ed on Thursday, there needs to be a source of real competition for the credit-card pushers, namely online marketplace lenders, so consumers with below-average credit scores can have access to credit at somewhat reasonable rates.

Because there's clearly demand. Credit card balances in the U.S. could hit $1 trillion this year. That would be near the $1.02 trillion peak posted in July 2008. The...