Tagged: lendingclub

LendingClub Reports 22% Revenue Growth While Net Loss Grows

LendingClub (NYSE: LC), the largest marketplace lending platform in the US, has just released their Q1 earnings report while providing guidance for the full year. According to LendingClub, revenue increased 22% to $151.7 for the quarter with originations growing 18%. Total lending has now topped… Read More

LendingClub Responds to FTC Complaint: “We do not agree and are very disappointed that it was not possible to resolve this matter constructively with the agency’s current leadership”

LendingClub (NYSE:LC), the largest marketplace lending platform in the US, has posted a response to a US Federal Trade Commission (FTC) complaint that was launched in 2016. In brief, LendingClub had this to say: “We do not agree and are very disappointed that it was… Read More

Online Lending in Risk On Mode: Unprecedented 21 Months of Non Stop Securitization Issuance

PeerIQ has just published their quarterly marketplace lending securitization tracker. The periodic report gauges activity in the online lending sector providing an interesting barometer of industry sentiment and investor activity. The most recent report stated that PeerIQ has observed an “unprecedented 21 months of non-stop… Read More

LendingClub Hires Bahman Koohestani as CTO

LendingClub (NYSE: LC), has selected  Bahman Koohestani to serve as the company’s Chief Technology Officer. Koohestani was most recently with Clarivate Analytics, where he served as Chief Technology Officer. Prior to Clarivate Analytics, Bahman was Executive Vice President and Chief Technology Officer of shopping site NexTag where… Read More

Heard at LendIt Fintech 2018

LendIt returned to San Francisco this year as it continues with its annual conference which is one of the largest Fintech focused events in the US. This year’s event is a bit different for several reasons. First of all, more traditional banks showed up in… Read More

Lawrence Summers Resigns from LendingClub Board, Leading Economist Susan Athey Steps In

Lawrence Summers has resigned from the Board of Directors of LendingClub (NYSE:LC), according to a release from the leading online lending platform. Summers is departing the Board at the conclusion of LendingClub’s annual shareholder meeting following a six year stint helping to guide the firms strategy. Summers… Read More

LendingClub Increases Interest Rates on Loans, Files 8K on Change [u]

Marketplace lending platform LendingClub (NYSE:LC) has filed an 8K with the Securities and Exchange Commission regarding interest rate changes. For most industry followers this shift should come as no surprise. With the Federal Reserve increasing their benchmark rates, with several increases expected in 2018, it… Read More

LendingClub Q4 Earnings Release Scheduled for February 20th

LendingClub (NYSE: LC) has scheduled its Q4 earnings release for Tuesday, February 20, 2018, after market hours. LendingClub will host a conference call at 5PM ET the same day A live webcast of the call will be available on the LendingClub website here.  Alternative you may dial… Read More

LendingClub Files 8K on $200 Million Warehouse Agreement

LendingClub (NYSE:LC), the largest marketplace lending platform in the US, has just posted an 8K regarding a warehouse funding agreement with certain lenders. LendingClub has enlisted the assistance of JPMorgan Chase Bank, N.A. as administrative agent, and Wilmington Trust, National Association as collateral trustee. The warehouse… Read More

PeerIQ CEO Ram Ahluwalia: 2017 Saw a Resurgence of Growth in Online Lending

  There are several people in the online lending industry, inclusive of marketplace and balance sheet lending, that truly know just about everything going on in this evolving sector of finance. Ram Ahluwalia, CEO and co-founder of PeerIQ is one of these persons. His company… Read More

The Top Ten Fintech Predictions for 2018

Last year, I boldly predicted 10 Fintech movements that will take place as Earth makes another perfect rotation around our Sun. It’s always fun to look back and see how wrong I was, so let’s stump the chump! Here are my original predictions. Let’s score… Read More

LendingClub Warns Shareholders on Newest Share Exchange Offer by IEG Holdings

  LendingClub (NYSE: LC), the largest marketplace lending platform in the US, has issued a public warning regarding a solicitation by IEG holdings apparently making a tender for LendingClub stock. The LendingClub Board of Directors received a letter from IEG Holdings on January 2nd. This is… Read More

Looking at 2018: A Discussion with Ron Suber

  Ron Suber is one of the best known names in the marketplace lending world and a staunch champion of the future of online lending. For many years, Suber was President of Prosper – a leading platform that targets the consumer lending sector – mainly… Read More

LendingClub Appoints Former Netflix Chief Talent Officer Patty McCord As New Board of Directors Member

Online credit marketplace LendingClub Corporation (NYSE: LC), announced on Tuesday it has appointed Patty McCord as the newest member of its Board of Directors, effective December 13, 2017. According to the online lender, McCord spent 14 years creating the unique and high-performing culture at Netflix and… Read More

Here is the LendingClub Presentation Shared at their Investor Day Event

LendingClub (NYSE:LC) presented at Morgan Stanley last week in a day long event that provided an in-depth update on the company and its expectations for future performance. The Investor Day Presentation, embedded below, was an encouraging compendium of how LendingClub envisions the future of online… Read More

LendingClub will Hold Live Investor Meeting on Thursday

LendingClub (NYSE:LC) has gone from Wall Street darling to Wall Street dog. Since the IPO at the tail end of 2014, shares in the largest marketplace lending platform in the US have struggled to regain its offer price of $15 a share. If you are… Read More

LendingClub Closes on Pass-Through Security Transaction Providing New Liquidity Over the Counter

LendingClub (NYSE: LC), the leading marketplace lending platform in the US, has closed a “first-of-its-kind” transaction: a whole loan transaction structured as a tradable, pass-through security labeled as a Consumer Loan Underlying Bond or “CLUB Certificate”. This first transaction totaled $25 million with an institutional investor seeking… Read More

LendingClub Q3 Results: Highest Revenue in the Company’s History of $154.0 million

LendingClub (NYSE:LC), the largest marketplace lending platform in the United States, has published Q3 2017 financial results. The company delivered the best revenue in LendingClub’s history generating $154 million in top line revenue, an increase of 34% versus year prior and 10% over Q2 2017…. Read More

LendingClub Announces Asset Management Business Rebranding

LendingClub announced this week it has rebranded asset management business, LC Advisors, to LendingClub Asset Management (LCAM), which is described as a firm that aims to deliver efficient access to the consumer credit asset class for institutional and high-net-worth investors. The online lender stated the rebranding… Read More

LendingClub Lawsuit Sees Judge OK Class Certification (Document)

A law suite between investors and LendingClub (NYSE:LC) received the green light to proceed as a class action from US District Judge William Alsup in California last week. The case stems from investors who purchased shares in the online lender only to see the value… Read More