News Topic: Lending Club

Rather than receiving a lump-sum payment from the online lender, borrowers can now choose to have the proceeds of a debt consolidation loan sent to the companies they owe. ... Read full article

The San Francisco-based online lender, which has recorded nearly $450 million in losses since 2016, is taking aggressive steps to achieve adjusted profitability later this year. ... Read full article

The San Francisco-based online lender said that the departures of two prominent board members are not the result of any disagreement with the company. ... Read full article

The online consumer lender trimmed its losses in the fourth quarter and says an adjusted, non-GAAP metric suggests it's on the path to getting out of the red later this year. ... Read full article

As the consumer lender announced its seventh consecutive profitable quarter, its CEO bragged that his company is better positioned than the likes of Goldman Sachs and LendingClub. ... Read full article

CrediFi helps bankers pursuing commercial real estate loan growth minimize the risk in lending to customers they historically haven't served. ... Read full article

The online lender will roll out its first new product in 12 years, a home equity line of credit. But it's taking a different approach than with its original offering. ... Read full article

The San Francisco company, which has racked up big losses over the last two and a half years, signaled Tuesday that it is on a path to profitability after resolving a series of longstanding regulatory problems. ... Read full article

Despite being barred from the securities industry by the SEC, LendingClub’s founder has found plenty of people to back his latest venture — and that’s a problem. ... Read full article

Renaud Laplanche agreed to pay $200,000 and accept a ban from the securities industry to settle a long-running SEC probe. A LendingClub subsidiary and the firm's former CFO, Carrie Dolan, were also fined. ... Read full article

Delinquencies have held steady for a year, and observers are optimistic about upcoming third-quarter data. But the long-term question is whether solid underwriting can overcome higher vehicle prices and consumer debt burdens. ... Read full article

The LendingClub founder responded to being booted from his company by starting a new one with involvement from former investors — and a loan buyer he had supposedly wronged. ... Read full article

Upgrade, a marketplace lender founded by Laplanche just a few months after he was ousted from LendingClub, has secured more than $100 million in equity capital and says it is poised to offer more consumer credit products. ... Read full article

The 100 dismissals in asset management follow job cuts in other divisions; the agency cites the lack of protections against fraud and market manipulation. ... Read full article

Rep. Emanuel Cleaver, D-Mo., released a survey of lending practices that he said point to practices such as forced arbitration clauses and extracting a customer’s credit score to determine creditworthiness. ... Read full article

The online lender’s president, Steve Allocca, shares how the company weathered scandal and hints at future plans to grow its product set. ... Read full article

In recent weeks, several banks and fintechs have added new branches or new units, and in the process brought aboard new leadership. Here's a roundup of key hires. ... Read full article

The marketplace lender recorded an impairment charge tied to the acquisition of a specialty lending business and is still being hit with costs stemming from the scandal that toppled its previous CEO. ... Read full article