Sep 12, 2017

SoFi CEO to step down amid sexual misconduct allegations

SoFi CEO Mike Cagney (r), President/CFO Nino Fanlo (l)

Mike Cagney, co-founder and CEO of lending company SoFi, will resign by the end of the year, he said in a note to employees on Monday. He's also immediately stepping down as the company's executive chairman.

Cagney's resignation comes as the company faces allegations of sexual misconduct by former finance chief Nino Fanlo and a newly disclosed settlement following an investigation in 2012 into a dispute between Cagney and an employee, as reported by the Wall Street Journal and the New York Times. The latter adds that Cagney allegedly also had inappropriate relationships with another employee later that year.

Last month, a former employee filed a lawsuit against the company, alleging that it had fostered a sexist culture and that he was fired after reporting some managers for sexually harassing their subordinates.

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Data: SurveyMonkey; Chart: Danielle Alberti/Axios

There are only five states in the U.S. where voters younger than 35 embrace President Trump over Joe Biden, and none are swing states, according to new 50-state SurveyMonkey-Tableau data for Axios.

Why it matters: These scattered red spots in a sea of blue vividly illustrate Trump's peril if young people were to actually turn out this year. Put another way, Trump's path to re-election depends heavily on younger adults staying home.

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Illustration: Aïda Amer/Axios

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Why it matters: The revelation comes roughly two weeks before Election Day. Ratcliffe said Iran has sent threatening emails to Democratic voters this week in states across the U.S. and spread videos claiming that people can vote more than once.

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