Tagged: lending club

LendIt Founder Slaps Down Bloomberg Article on Lending Club “Shady Loans”

Peter Renton, founder of LendIt and online lending industry advocate, has take to the pages of Lend Academy to defend Lending Club (NYSE:LC) following a critical article by BloombergBusinessweek. The Bloomberg article, co-authored by Max Chafkin and Noah Buhayar, hammered Lending Club by questioning the… Read More

Here is the Q2 Earnings Deck for Lending Club

Lending Club (NYSE:LC) announced earnings yesterday. The Q2 numbers were over-shadowed by the “resignation” of Carrie Dolan, the longtime CFO of Lending Club who joined the company when there were just 40 companies. During the conference call, Lending Club CEO Scott Sanborn stated that Dolan… Read More

Lending Club Announces Q2 Financial Results: “Our efforts to reengage investors are working”

Lending Club (NYSE:LC) has announced Q2 2106 financial results reporting almost $2 billion in loan originations. Comparing this quarter to the same quarter in 2015, originations increased by 2%.  Meanwhile losses accelerated with a negative $81.4 million being posted and an adjusted EBITDA of $30.1… Read More

Carrie Dolan Departs Lending Club as CFO

There is another shocking change of leadership at Lending Club (NYSE:LC), the largest marketplace lending platform in the US. Longtime CFO Carrie Dolan has resigned her role as Chief Financial Officer in what must be a significant blow to the online lender.  Dolan joined the… Read More

David Snitkof of Orchard Shares Unique Insight into Online Lending Market Dynamics

Orchard Marketplace is a platform that is uniquely positioned at the intersection of institutional money and online lending. If you are a large investor you are using Orchard to manage and access loans on all marketplace lending platforms. This perspective means that Orchard can easily… Read More

Lending Club Reports After the Bell on Monday

Lending Club (NYSE: LC), the largest marketplace lending platform in the US, is scheduled to announce Q2 earnings tomorrow after the market closes on Monday (August 8). The executive team will be holding a conference call at 5PM ET (2PM PT). The financial performance of… Read More

At the Intersection of Fintech: Canaan Partners

Canaan Partners is a Silicon Valley VC firm that has over $4.0 billion under management with a good portion of their investments going into seed / early stage companies. They have also set up offices in Israel to be closer to the StartUp Nation phenomena… Read More

Interested in Buying Loans? Lending Club Said to Be in Talks with Western Asset Management

Money Benjamin Dollars 100

Seeking to spark demand for its consumer debts arranged online, Lending Club (NYSE:LC) is said to be in talks with Western Asset Management Co. to set up a fund to purchase as much as $1.5 billion of loans over time, reported Bloomberg. An unidentified person familiar… Read More

NSR Invest Launches New Features Including Secondary Market for P2P Loans

NSRInvest, a platform that provides institutional like investment tools for retail investors purchasing loans from Lending Club, Prosper and Funding Circle.  These marketplace / P2P lending platforms can provide solid risk-adjusted returns from a diversified portfolio of loans. When institutional money showed up, marketplace lending shot… Read More

Lending Club to Post Q2 Earnings on August 8th

Lending Club (NYSE:LC), the largest marketplace lending platform in the US, has scheduled 2nd quarter earnings (ending June 30) release for August 8, 2016, after the market closes.  Lending Club will host its earnings conference call at 2PM PT or 5PM ET that day. A… Read More

New Hire: Lending Club Appoints Former BlackRock Executive as New Chief Capital Officer

Marketplace lending platform Lending Club (NYSE:LC) has appointed Patrick Dunne as its new Chief Capital Officer.  Dunn, an experienced investment banker, has held leadership roles at BlackRock, Barclays Global Investors and iShares.  Most recently Dunne was head of BlackRock’s San Francisco office and Head of iShares… Read More

The Lending Club Predicament & The Lessons Learned

When Lending Club, as the worldwide leader in P2P/marketplace lending and, for that matter, in the entire global crowdfunding market, runs into trouble, it is bound to send ripples way beyond its home market, the United States. And it does. The fast emerging French crowdlending… Read More

Lending Club: Here is the 8K Filed Alongside Shareholder Meeting

Lending Club (NYSE:LC) held its annual shareholder meeting yesterday making several announcements including the appointment of Scott Sanborn as CEO, making his position permanent instead of temporary. The largest marketplace lending platform in the US explained to shareholders that many investors paused in May but… Read More

Lending Club Annual Meeting is Today, Announces Reduction of 179 Employees on Lower Loan Volume

Lending Club (NYSE:LC) will be holding its annual meeting today.  Originally the meeting was scheduled for June 7th, the annual meeting was rescheduled for today (June 28, 2016) as it was not yet in a position to provide its shareholders a complete report on the… Read More

It’s Official: Scott Sanborn is Named CEO of Lending Club

Scott Sanborn, previously named “Temporary” Chief Executive Officer of Lending Club (NYSE:LC), may now remove the temporary portion of his title.  Sanborn is now the CEO of Lending Club following a decision by the Board of Directors.  The Board has tasked Sanborn with transforming the… Read More

Legal Experts Respond to SCOTUS Decision Not to Review Second Circuit Madden vs. Midland Decision

Reactions to the Supreme Court decision declining to review the Second Circuit court decision regarding Madden vs. Midland are starting to crop up. The case is one that is being widely watched by the marketplace and online lending industry. Vincent Basulto, a partner at Richards… Read More

John Mack Pinned on Lending Club on CNBC

John Mack, a bit of a legend in the banking world who garnered the nick-named Mack the Nice (in contrast to some other less savory nicknames for other iBankers), visited the studios of CNBC this morning to discuss a broad range of topics.  Mack is… Read More

Balance Sheet: Lending Club Buys Own Loans as Chatter Increases of Potential Acquisition

In a recent article in WSJ.com, an analyst report is referenced stating Lending Club (NYSE: LC) is buying more of its own loans.  While it was labeled as a “mixed indicator” it is also a vote of confidence in the assets as Lending Club shifts… Read More

Zopa CEO Jaidev Janardana: Leading UK P2P Lending with Superior Service, Transparency and Cutting-Edge Fintech

Armed with an undergraduate degree in Electronics from Dharmsinh Desai University and MBAs from both the Indian Institute of Management, Bangalore and McGill University, Jaidev Janardana spent 12 years with Capital One, in the US and the UK. He was the CMO for Capital One UK, responsible… Read More

Charles Moldow Compares Fintech Early Days to Netflix’s Ultimate Domination

How easy is it for Fintech startups to challenge established Wall Street firms? Charles Moldow, General Partner of Foundation Capital and an early investor in Lending Club, OnDeck and more, recently told CNBC; “I think it is hard to disrupt any mature industry. This one… Read More

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