Lending Club

OCC approves LendingClub acquisition of Radius


The regulator's order moves the San Francisco-based company one step closer to becoming the first online lender to own a bank.


Online loans are holding up better than expected


Fintech lenders that reported a surge in missed payments at the start of the pandemic have seen credit quality rebound substantially since. But credit performance could still deteriorate if high unemployment persists and Congress fails to enact more relief measures.


Santander Group invests $40M in consumer lender Upgrade


Other challenger banks focused on personal loans have struggled since the onset of the coronavirus pandemic.


Battered by coronavirus crisis, online lenders face reckoning


The upstarts enjoyed rapid growth during the long economic expansion. Now they are on the ropes.


LendingClub reinforces its cyber defenses


The online lender has deployed new software designed to spot security risks early, especially the kind of cloud-data issues that led to the Capital One-Amazon breach.


Prepping for PPP 2.0, new bankers’ hours, rethinking branch design: Top stories of the week


Lenders are set to flood the SBA with new PPP applications; long nights and weekends the new normal; Fifth Third rethinks new-branch designs in light of coronavirus; and more from this week's most-read stories.


LendingClub laying off 460 staffers, including president


The online lender, reeling from the economic fallout of the coronavirus pandemic, also said it is cutting senior executives' salaries by 25%.


Online lenders seek to balance the needs of borrowers, investors


While LendingClub, Prosper, Avant and SoFi are giving existing borrowers breaks in the short term, they're considering tightening credit as the coronavirus outbreak threatens to drag the economy into a recession.