Lending Club - News, Articles & Research

Company announcement/ai

LendingClub and Pagaya buy Tally Technologies IP

LendingClub Corporation (NYSE: LC), operator of America's leading digital marketplace bank, and Pagaya Technologies LTD (NASDAQ: PGY), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced that they partnered together to acquire the intellectual property behind Tally Technologies, Inc. ("Tally").

09 October 2024

News/retail

LendingClub cuts 225 jobs

P2P lending pioneer LendingClub is cutting its workforce by 14% - 225 employees - as it faces up to reduced demand for its loans.

16 January 2023

Company announcement/people

LendingClub appoints Drew LaBenne CFO

LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today announced that Drew LaBenne has been named LendingClub's next Chief Financial Officer (CFO).

29 July 2022

Company announcement/retail

LendingClub taps Alto as prefered partner for IRAs

Alto Solutions, Inc. (Alto), the next-generation self-directed IRA platform making it easier for individuals to access and invest in alternative assets using their retirement funds, today announced it was selected by LendingClub Corporation (NYSE: LC) as the new preferred IRA custodian for LendingClub IRA account holders.

12 May 2021

Company announcement

LendingClub sunsets Notes platform

Effective December 31, 2020, LendingClub will retire the Notes platform.

08 October 2020

News/retail

LendingClub cuts 460 jobs as Covid-19 hits loan demand

P2P pioneer LendingClub is cutting around 30% of its workforce - 460 people - as it struggles with the "unprecedented effect" the Covid-19 pandemic is having on loan demand.

22 April 2020

News

Online credit marketplace LendingClub acquires Radius Bank

P2P pioneer LendingClub is to become the first US fintech to acquire a bank, agreeing a $185 million deal for online-only Radius Bank.

19 February 2020

News

Citi Ventures invests in Even Financial

Citi Ventures has co-led a $25 million funding round for Even Financial, the startup that uses an API to help banks find and connect with consumers via channel partners.

05 September 2019

News

FTC charges Lending Club over 'no hidden fees' claim

Lending Club has been charged by the Federal Trade Commission with deceiving customers by promising "no hidden fees" and then taking money from their accounts without authorisation.

26 April 2018

News

Big banks more popular than fintechs with US SMEs - survey

A survey of small business credit published by the Federal Reserve Bank of New York has revealed that online lenders are less popular with small and medium enterprises (SMEs) than big banks.

13 April 2017

News

Ousted Lending Club CEO Laplanche launches rival platform

A year after being forced out of Lending Club, the firm's founder Renaud Laplanche is back with a new online lending platform and $60 million in financing.

06 April 2017

News

High rate of defaults hit P2P lending sector

Investors in the peer to peer (P2P) lending sector have seen their returns suffer due to a high rate of borrower defaults among start-ups, reports the Wall Street Journal (WSJ).

20 February 2017