Tagged: lendingclub

LendingClub Bank Supports Paycheck Protection Program Loans

Last month, the US Paycheck Protection Program (PPP) was extended to aid small businesses impacted by the ongoing COVID-19 health crisis. With the program extending, LendingClub Bank says it will support SMEs with access to more PPP loans through its predecessor in interest Radius Bank…. Read More

LendingClub Shares May Be Surging Due to Institutional Interest

The shares of LendingClub (NYSE: LC), an online lender and nascent digital bank, have been surging recently. Last week, LendingClub reported an adjusted net loss of $(22.1) million in the fourth quarter, compared to an adjusted net income of $7.0 million the same quarter last… Read More

BlueVine Appoints Former LendingClub President Steve Allocca as First Chief Operating Officer

BlueVine, an online lender and fintech bank, announced on Wednesday it has appointed Steve Allocca as its first-ever Chief Operating Officer. BlueVine reported that in his new role, Allocca will generate strong operational efficiency across the organization and drive growth across all products. According to BlueVine,… Read More

As Fintech Industry Matures, the Need for Policy Advocacy Grows: OLPI and MPL Merge to Form American Fintech Council

Financial technology or Fintech has been growing at a rapid pace for years now. Starting with online capital formation, today a growing number of sophisticated financial services are going through a much-needed. digital transformation. This can mean better/cheaper access to services for more consumers and… Read More

LendingClub Reports $22.1 Million Net Loss in Q4 as Revenue Declines, Loan Originations Increase [u]

LendingClub (NYSE: LC), an online lender and nascent digital bank, has announced financial results for Q4 2020 and the full year ending December. According to a release, LendingClub’s adjusted net loss was $(22.1) million in the fourth quarter, compared to adjusted net income of $7.0… Read More

LendingClub Shares Financial Management Tips, Explains how to Build Emergency Fund and how to Apply for Personal Loans

LendingClub (NYSE:LC) notes that if you’ve been struggling to make ends meet, then you are definitely not alone. Amid the ongoing COVID-19 pandemic, nearly 30 million US residents are still facing unemployment, which has compounded existing struggles for workers who may have been living paycheck-to-paycheck… Read More

LendingClub Money Management Update Reveals that 70% of Individuals have Admitted “Hiding” Some Type of Debt from Partners

LendingClub (NYSE:LC) notes that married couples who manage their finances together are (usually) more likely to say they’re in “a happy, stable partnership,” according to a research study carried out by the University of Arizona. However, a LendingClub member survey has revealed that almost 70%… Read More

As Part of Radius Bancorp Purchase LendingClub Files Shelf Statement on Shares, Cash Involved in Acquisition

LendingClub (NYSE:LC) just closed on the acquisition of Radius Bancorp as it morphs from an online lender to a full-stack digital bank. Today, a shelf registration statement has popped up outlining the terms of the deal that reveals the shares-cash purchase price. LendingClub previously disclosed… Read More

LendingClub Completes Acquisition of Radius Bancorp: Moves Forward with Digital Banking Future

LendingClub (NYSE:LC) has completed the acquisition of Radius Bancorp, according to a public release. Scott Sanborn, CEO of LendingClub, issued the following statement: “This is a historic day for LendingClub and a true watershed moment for the industry. The move to digital-first banking is accelerating,… Read More

LendingClub Comments on Radius Bank Acquisition: A watershed moment for the industry

LendingClub (NYSE:LC) says it has now received all the bank regulatory approvals necessary to complete its acquisition of digital bank Radius Bancorp. LendingClub said the deal should close on or around February 1, 2021, subject to completion or waiver of the remaining customary closing conditions. At… Read More

Happy New Year! LendingClub’s Acquisition of Radius Bank Approved by the OCC

LendingClub (NYSE:LC) will start 2021 on a high note it seems. The online lender and aspiring digital bank has had its acquisition of Radius Bank approved by the Office of the Comptroller of the Currency (OCC), according to many reports. Additionally, the decision letter was… Read More

LendingClub – Cautiously Optimistic for 2021

LendingClub (NYSE:LC) has published a blog post reflecting on platform performance and hope for the forthcoming new year as we turn the corner on past months that have been dominated by an ongoing health crisis. LendingClub was hammered by COVID-19, like many online lenders, seeing… Read More

LendingClub Recognized as Top Workplace in Utah

LendingClub (NYSE: LC) has received a nice recognition from the Salt Lake Tribune. A relatively recent presence in Utah, LendingClub has been rccognized as a Top Workplace for 2020. According to a note from LendingClub,  the list is based solely on employee feedback gathered through… Read More

LendingClub Shares Hit 6 Month High

LendingClub (NYSE:LC) shares hit a six-month high today rising over 9% to close at $7.48 each. The strong performance came on day when markets were slightly green overall but alongside no news for the Fintech. LendingClub has not traded above this level since last April…. Read More

LendingClub Q3 Numbers: Loan Originations Down 83% Year-Over-Year but Improving 79% Sequentially

LendingClub Corporation (NYSE: LC) has announced its Q3 results for the period ending September 30, 2020. LendingClub, a leading online lender, has been battered by the ongoing COVID-19 health crisis but is reporting a bounce back in loan originations. According to the earnings report, loan… Read More

GROUNDFLOOR CEO Brian Dally Comments on LendingClub’s Decision to Stop Allowing Retail Investors to Participate in Marketplace Loans

Last week, LendingClub (NYSE:LC) filed an 8-K with the Securities and Exchange Commission (SEC) indicating its intent to stop offering retail notes by the end of the year. The leading marketplace lender in the US started as a peer to peer lender but over the… Read More

13G Filing Shows ARK Investment Management Controls 10.47% of LendingClub Shares

ARK Investment Management LLC, an investment management firm looking to invest in the “next big thing,” now controls a 10.47% stake in LendingClub (NYSE:LC), according to a Schedule 13G filed with the Securities and Exchange Commission (SEC). The revelation of the significant shareholding comes during… Read More

LendingClub Files 8-K Indicating It Will Cease Offering and Selling Retail Notes [u]

Closing an Important Chapter LendingClub (NYSE:LC), the leading marketplace lender in the US, has filed an 8-K with the Securities and Exchange Commission stating it will cease offering Retail Notes as of the end of 2020. In an email distributed to LendingClub retail investors, the… Read More

LendingClub: Research Indicates Consumers Pay Personal Loans Before Credit Cards, Reports that Repayment Rates are High

LendingClub (NYSE:LC), a top marketplace lender serving consumers, says two recent studies indicate that personal loan payments take priority over paying off credit cards. Of course, this is good news for LendingClub – a long time advocate of cheaper personal loans versus expensive credit card… Read More

Five Things You Should Know if You’re Building Products to Improve Financial Wellbeing

Expand your business’ impact by designing smarter products that benefit customers Building great financial products should follow the same basic rules as building any other solid products. However, this post will go beyond the basics and discuss how we can build financial products to improve… Read More

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