Scott Sanborn, CEO of Lending Club (NYSE:LC) delivered an upbeat report on Q3 results today sharing on the earnings call that progress was moving forward ahead of expectations. Sanborn said investors invenctives were removed and many institutional investors had returned to the fold. Lending Club increased rates several times this past year to improve credit risk and incentivize investors.
Sanborn highlighted Lending Club’s recent push into secured auto loans – a new lending vertical for the marketplace lender.
Sanborn also said he recently spent time in Washington, DC discussing the benefits his platform provides with policy makers and regulators.
Since platform inception, Lending Club has originated $22.66 billion in loans.
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