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JACKSON HEWITT ANNOUNCES THE GREAT PAYCHECK GIVEAWAY

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Wednesday, November 1, 2023

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JERSEY CITY, N.J., Nov. 1, 2023 /PRNewswire/ -- The majority of Americans are struggling to make ends meet from month to month. In fact, recent research from LendingClub and PYMNTS shows more than six out of ten Americans (60%) are living paycheck-to-paycheck and finances are even more challenging at the end of the year. The latest Paycheck-to-Paycheck Report finds 66% of respondents stated the most stressful months of the year are November, December, and January, as holiday shopping and bills that follow make managing finances especially difficult.

Key Points:

Understanding the impact of an "extra" paycheck, Jackson Hewitt Tax Services® has launched the Great Paycheck Giveaway From November 1, 2023, through December 31, 2023, hardworking Americans can enter for a chance to win up to $2,500 in the company's first-ever Great Paycheck Giveaway.
"As the year comes to a close, we want to help by providing people across the country the chance to win an 'extra' paycheck through our new Great Paycheck Giveaway Sweepstakes.
For more information, visit the official rules for the Jackson Hewitt Great Paycheck Giveaway.
Appointments will be available starting Monday, December 11 nationwide and can be booked online at Jackson Hewitt .

Consumers Deplete an Average of 67% of All Available Savings Once Every Four Years

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Monday, October 30, 2023

SAN FRANCISCO, Oct. 30, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today released key findings from the 27th edition of the Reality Check: Paycheck-To-Paycheck research series, conducted in partnership with PYMNTS Intelligence. The Savings Deep Dive Edition examines consumers' ability to preserve their savings in the current economic environment, especially when faced with major expenditures. This edition draws on insights from a survey of 3,648 U.S. consumers conducted from Sept. 5 to Sept. 20 and an analysis of other economic data.

Key Points:

The Savings Deep Dive Edition examines consumers' ability to preserve their savings in the current economic environment, especially when faced with major expenditures.
Aggregate consumer savings amounted to an average of $11,000 per consumer in September 2023, roughly unchanged from a year ago.
These depletions occur on average every four years and use 67% of the average consumer's available savings, with Gen Z emptying 70% of their savings as often as every two years.
Consumers disclose that financial contingencies, such as debt accumulation (15%) and investment losses (15%), also cause them to deplete their savings.

LendingClub Reports Third Quarter 2023 Results

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Wednesday, October 25, 2023

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SAN FRANCISCO, Oct. 25, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today announced financial results for the third quarter ended September 30, 2023.

Key Points:

SAN FRANCISCO, Oct. 25, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today announced financial results for the third quarter ended September 30, 2023.
Total assets of $8.5 billion compared to $8.3 billion in the prior quarter, primarily reflecting growth in securities related to the structured certificate program.
Deposits of $7.0 billion compared to $6.8 billion in the prior quarter, primarily due to an increase in customer certificates of deposit.
Efficiency ratio improved to 63.7% compared to 65.0% in the prior quarter, driven by lower non-interest expense.

Marketplace for pre-IPO stock raises at US $77 million valuation following explosive growth

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Tuesday, October 17, 2023

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Hiive, the world's fastest growing marketplace for stakes in private venture backed companies, raised at a US $77 million post-money valuation.

Key Points:

Hiive, the world's fastest growing marketplace for stakes in private venture backed companies, raised at a US $77 million post-money valuation.
SAN FRANCISCO, Oct. 17, 2023 /PRNewswire/ - Hiive , the first marketplace offering direct trading between buyers and sellers of pre-IPO shares, has raised its first institutional capital from global investors.
In the past 12 months, the marketplace has grown both its rate and volume of transaction completion around six times.
We aim to offer companies a flexible alternative to this approach while keeping them in control of key parameters."

LendingClub Aligns Cost Structure to Evolving Macroeconomic Environment

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Thursday, October 12, 2023

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SAN FRANCISCO, Oct. 12, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC) announced today a cost reduction plan to ensure its ability to navigate through the challenging macroenvironment. The Company also provided preliminary results and scheduled the earnings release and conference call for the third quarter of 2023.

Key Points:

The expectations above are inclusive of the majority of severance charges, which were recorded in the third quarter of 2023.
LendingClub will report earnings for the third quarter of 2023 on Wednesday, October 25, 2023, after market hours.
LendingClub will host a conference call to discuss the third quarter 2023 financial results at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day.
A live webcast of the call will be available at http://ir.lendingclub.com under the Filings & Financials menu in Quarterly Results.

Bluevine and National Community Reinvestment Coalition Join Responsible Business Lending Coalition

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Wednesday, October 4, 2023

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"NCRC is thrilled to join the RBLC to continue pushing for better laws and healthier business practices," NCRC President and CEO Jesse Van Tol said. "RBLC's work to protect small business owners from opaque and unscrupulous high-cost loans and lines of credit has resulted in tangible benefits. By passing Small Business Truth-in-Lending laws in several states, RBLC has supported small business entrepreneurship -- and rewarded pro-consumer lenders by preventing a race-to-the-bottom lending climate. NCRC looks forward to contributing to the momentum to advance opportunities for small businesses."

Key Points:

"Bluevine has demonstrated remarkable leadership in advocating for responsible practices in the small business financing industry.
The Responsible Business Lending Coalition (RBLC) is the leading cross-sector voice on small business financial protection.
The coalition includes nonprofit and for-profit CDFIs, fintechs, investors, and small business advocates that share a commitment to innovation in small business lending and serious concerns about the rise of irresponsible small business lending.
Members of the Responsible Business Lending Coalition include Accion Opportunity Fund, the Aspen Institute, Bluevine, Camino Financial, Community Investment Management, LendingClub, the National Association for Latino Community Asset Builders, the National Community Reinvestment Fund, Opportunity Finance Network, and Small Business Majority.

Rising US Personal Loan Debt: Average Unsecured Personal Loan Balance Reaches $9,896 in 2022 - ResearchAndMarkets.com

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Friday, September 29, 2023

Personal Finance, Professional Services, Finance, LendingClub, Equated monthly installment, Debt-to-GDP ratio, EMI, Chatbot, USD, European South African Science and Technology Advancement Programme, Credit, Security (finance), Bank

The global unsecured loan market is poised for substantial growth in the forecast period due to several key factors.

Key Points:

The global unsecured loan market is poised for substantial growth in the forecast period due to several key factors.
Popular Loan Purposes: A significant majority of borrowers (57.6%) utilize personal loans to refinance credit card debt or consolidate existing debts.
US Personal Loan Debt: In 2022, the United States is witnessing unprecedented levels of personal loan debt.
The average balance per loan of unsecured personal loans held by Americans is USD 9,896, with a total balance amounting to USD 177.9 billion.

Nearly Half of U.S. Consumers Report Their Financial Livelihood Fluctuates Seasonally

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Wednesday, September 27, 2023

SAN FRANCISCO, Sept. 27, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today released key findings from the 26th edition of the Reality Check: Paycheck-To-Paycheck research series, conducted in partnership with PYMNTS Intelligence. The Seasonal Financial Distress Deep Dive Edition examines the impact of seasonal spending on consumers' ability to manage expenses and put aside savings. This edition draws on insights from a survey of 4,218 U.S. consumers conducted from Aug. 2 to Aug. 15, supplemented by analysis of other economic data.

Key Points:

"The data underscores the pervasive nature of financial challenges affecting a majority of consumers," said Alia Dudum, LendingClub's Money Expert.
However, the problem is that there is more month at the end of the money, and seasonality is affecting consumers' financial distress."
Nearly half of all consumers say their financial standing fluctuates seasonally.
While nearly half of consumers report cutting back on nonessential expenditures to deal with seasonal financial challenges, the most frequently cited coping strategy across all financial lifestyles is using credit.

Key Advantages and Growing Technological Advancements in the Unsecured Loan Market Attract Borrowers

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Tuesday, September 26, 2023

LendingClub, Equated monthly installment, Debt-to-GDP ratio, EMI, Chatbot, USD, European South African Science and Technology Advancement Programme, Credit, Security (finance), Bank

The global unsecured loan market is poised for substantial growth in the forecast period due to several key factors.

Key Points:

The global unsecured loan market is poised for substantial growth in the forecast period due to several key factors.
Technological Advancements in the Unsecured Loan Market:
The unsecured loan market has embraced advanced technologies, enhancing the borrower experience:
Digitalization: Platforms like Zopa, Prosper, and Lending Club facilitate person-to-person lending for personal loans, offering credit cards, fixed-term savings accounts, and access to loans from various lenders or investors.
Innovation: Technological advancements have spurred the development of innovative unsecured loan schemes, providing profitable opportunities for market expansion.
Key players in the global unsecured loan market include:

iCreditWorks Expands Commercial Team with Six Key Hires

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Monday, September 25, 2023

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ISELIN, N.J., Sept. 25, 2023 /PRNewswire/ -- iCreditWorks , one of the fastest-growing FinTech platforms in the United States, announced today the expansion of its commercial team with six key hires to accelerate the growth of its omni-channel "Point-Of-Sale" (POS) financing* platform, which features the first-in-market, native mobile App.

Key Points:

ISELIN, N.J., Sept. 25, 2023 /PRNewswire/ -- iCreditWorks , one of the fastest-growing FinTech platforms in the United States, announced today the expansion of its commercial team with six key hires to accelerate the growth of its omni-channel "Point-Of-Sale" (POS) financing* platform, which features the first-in-market, native mobile App.
Jason Haselhuhn, Senior Vice President of Business Development, will lead the team and focus on growing the firm's national community of Providers, building new sector go-to-market (GTM) strategies, and continuing to elevate the iCreditWorks brand.
Before moving to iCreditWorks, Jason led sales, growth, and partnerships at several leading POS platforms such as CareCredit, Lending Club, GreenSky, and, most recently, PrimaHealth Credit.
Rondi Michaux, Director of Strategic Accounts, joins iCreditWorks with over 20 years of experience in the network dental sector.