Tagged: lendingclub

August 3, 2021 @ 5:57 pm By Omar Faridi  |  

LendingClub Corporation (NYSE: LC), the parent firm of LendingClub Bank, the leading digital marketplace bank in the US, has shared key findings from its second Reality Check: Paycheck-To-Paycheck research series. The first report revealed that most US residents (54%) are living paycheck-to-paycheck; this second August… Read More

July 28, 2021 @ 4:53 pm By JD Alois  |  

LendingClub (NYSE:LC), a Fintech that started as a peer-to-peer lender and now operating as a digital bank, has posted strong 2nd quarter results that easily topped expectations. LendingClub finally turned the corner on profitability shredding guidance that had expected a loss. Shares moved considerably higher… Read More

July 15, 2021 @ 11:51 am By JD Alois  |  

In the days before Q2 earnings, LendingClub (NYSE:LC) has settled its case with the Federal Trade Commission (FTC), subject to court approval. According to a release distributed by LendingClub, the settlement requires LendingClub to make an $18 million payment for consumer remediation, an amount already… Read More

July 14, 2021 @ 3:16 pm By JD Alois  |  

LendingClub (NYSE:LC), once the largest marketplace lender in the US and now an emerging digital bank, is transitioning away from the Radius Bank brand. As was previously reported, LendingClub acquired federally chartered Radius Bank with the deal closing around the beginning of this year. The… Read More

June 8, 2021 @ 11:15 am By JD Alois  |  

LendingClub Corporation (NYSE: LC) has announced several executive changes as it focuses on its mission to emerge as a top digital banking operation. In a public statement, LendingClub said it has promoted Ronnie Momen to serve as its first Chief Consumer Banking Officer and hired… Read More

May 12, 2021 @ 2:53 pm By JD Alois  |  

Alto Solutions, a self-directed IRA platform, reports that it has been selected by LendingClub (NYSE: LC) as the new preferred IRA custodian for LendingClub IRA account holders. The news follows an announcement last month that Alto had raised $17 million in a Series A funding… Read More

April 28, 2021 @ 5:00 pm By JD Alois  |  

LendingClub Corporation (NYSE: LC), has announced Q1 2021 earnings delivering a net loss of $41 million for the quarter. Loan originations were $1,483.2 billion for the quarter. In Q1 2020 that number was $2,521 billion. Loan originations in Q4 of 2020 were $912.0 million. LendingClub… Read More

April 8, 2021 @ 9:13 am By JD Alois  |  

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

March 17, 2021 @ 3:50 pm By Omar Faridi  |  

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

March 17, 2021 @ 8:33 am By Samantha Hurst  |  

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

March 14, 2021 @ 12:50 pm By JD Alois  |  

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

March 10, 2021 @ 4:34 pm By JD Alois  |  

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

March 9, 2021 @ 10:31 pm By Omar Faridi  |  

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

February 21, 2021 @ 8:37 pm By Omar Faridi  |  

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

February 2, 2021 @ 8:57 am By JD Alois  |  

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

February 1, 2021 @ 8:49 am By JD Alois  |  

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

January 19, 2021 @ 8:20 am By JD Alois  |  

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

December 31, 2020 @ 5:57 pm By JD Alois  |  

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

December 15, 2020 @ 6:04 pm By JD Alois  |  

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

December 14, 2020 @ 8:09 pm By JD Alois  |  

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