LendingClub

LendingClub Appoints Janey Whiteside to its Board of Directors

Retrieved on: 
Monday, April 24, 2023
HSBC Bank, Business development, LC, LendingClub, Marketing, Partner, SAN, Growth, United Kingdom, NYSE, Compensated emancipation, Cryptocurrency, American Express, Walmart

SAN FRANCISCO, April 24, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today announced that Janey Whiteside joined as the newest member of its Board of Directors, effective April 20, 2023. 

Key Points: 
  • SAN FRANCISCO, April 24, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today announced that Janey Whiteside joined as the newest member of its Board of Directors, effective April 20, 2023.
  • "We're so pleased to welcome Janey to our Board of Directors," said Scott Sanborn CEO of LendingClub.
  • Ms. Whiteside was the architect of Walmart+, its first ever membership program, and Walmart Connect, its retail media business and new advertising platform.
  • "Within the last three years, LendingClub has completely transformed its business model to become a leading digital marketplace bank," said Janey Whiteside.

KBRA Assigns Preliminary Ratings to Theorem Funding Trust 2023-1

Retrieved on: 
Thursday, April 13, 2023
Banking, Professional Services, Insurance, Finance, Upgrade, Inc., KBRA, LendingClub, ABS, Machine learning, Credit, National Association, Data science, Security (finance), Telescopic sight, Theorem

KBRA assigns preliminary ratings to two classes of notes issued by Theorem Funding Trust 2023-1 (“THRM 2023-1”), a $235.314 million consumer loan ABS transaction.

Key Points: 
  • KBRA assigns preliminary ratings to two classes of notes issued by Theorem Funding Trust 2023-1 (“THRM 2023-1”), a $235.314 million consumer loan ABS transaction.
  • The preliminary ratings reflect initial credit enhancement levels of 32.05% for the Class A Notes to 20.00% for the Class B Notes.
  • THRM 2023-1 is the sixth securitization for Theorem Partners LLC (“Theorem”) and the first in 2023.
  • KBRA has performed operational reviews of Theorem and each of the Platform Sellers and has conducted surveillance on each platform’s recent securitizations.

LendingClub Schedules First Quarter 2023 Earnings Release and Conference Call

Retrieved on: 
Wednesday, April 5, 2023
FinCEN Files, LendingClub, LC, NYSE, SAN

SAN FRANCISCO, April 5, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, announced that it will report earnings for the first quarter 2023 after the market closes on Wednesday, April 26, 2023.

Key Points: 
  • SAN FRANCISCO, April 5, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, announced that it will report earnings for the first quarter 2023 after the market closes on Wednesday, April 26, 2023.
  • LendingClub will host a conference call to discuss the first quarter 2023 financial results at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day.
  • In addition to questions asked live by analysts during the call, the company will also accept for consideration questions submitted via email prior to 12:00 p.m. Pacific Time (3:00 p.m. Eastern Time) on Tuesday, April 25, 2023.
  • A live webcast of the call will be available at http://ir.lendingclub.com under the Filings & Financials menu in Quarterly Results.

KBRA Assigns Preliminary Ratings to Pagaya AI Debt Trust 2023-3

Retrieved on: 
Thursday, March 30, 2023
Banking, Professional Services, Finance, Cross River Bank, Upgrade, Inc., LendingClub, Class, KBRA, Sale, ABS, MPL, Machine learning, Credit, Artificial intelligence, National Association, Securitization, SoFi, Security (finance), Telescopic sight

KBRA assigns preliminary ratings to two classes of notes issued by Pagaya AI Debt Trust 2023-3 (“PAID 2023-3”), a consumer loan ABS transaction.

Key Points: 
  • KBRA assigns preliminary ratings to two classes of notes issued by Pagaya AI Debt Trust 2023-3 (“PAID 2023-3”), a consumer loan ABS transaction.
  • Pagaya Structured Products LLC is a 100% owned subsidiary of Pagaya US Holding Company LLC (formerly known as Pagaya Investments US LLC), which is a 100% owned subsidiary of Pagaya Technologies Ltd. (“Pagaya Technologies”), an Israeli corporation.
  • This transaction is the eighth publicly rated securitization sponsored by Pagaya Structured Products LLC (collectively with its affiliates, “Pagaya” or the “Company”).
  • Previously, Pagaya US Holding Company LLC served as sponsor for 16 securitizations of unsecured consumer assets.

LendingClub Appoints Stephen Cutler to its Board of Directors

Retrieved on: 
Monday, March 27, 2023
Financial Industry Regulatory Authority, Metropolitan Museum of Art, LC, LendingClub, JPMorgan Chase, General counsel, Culture, Fintech, Government, Cyprus Securities and Exchange Commission, Audit committee, National Women's Law Center, Commission to Study the Potential Creation of a National Women's History Museum, Simpson Thacher & Bartlett, FINRA, Growth, Security (finance), Environment, NYSE, Cryptocurrency, Art

SAN FRANCISCO, March 27, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today announced that Stephen Cutler has joined as the newest member of its Board of Directors, effective March 23, 2023.

Key Points: 
  • Brings Decades of Banking Experience to the Board
    SAN FRANCISCO, March 27, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today announced that Stephen Cutler has joined as the newest member of its Board of Directors, effective March 23, 2023.
  • "We are thrilled to have Steve join our board as we navigate the current environment and position ourselves for our next phase of growth," said Scott Sanborn, CEO of LendingClub.
  • Earlier in his career, Mr. Cutler served as Director of the Securities and Exchange Commission's Division of Enforcement.
  • "LendingClub is a pioneer in their industry, and they are a great example of a Fintech that has scaled within a heavily regulated industry," said Mr. Cutler.

Half of Employed Consumers Have Supplemental Income Sources in Addition to their Paychecks

Retrieved on: 
Monday, March 27, 2023
Bureau of Labor Statistics, Nayar, The New Reality (TV program), Partnership, LC, LendingClub, Reality Check, Friends, Bureau, Structure of the Federal Reserve System, Tax, EBay, Government, Etsy, Investment, SAN, Motivation, Taskrabbit, Federal Reserve, Family, NYSE, Female, Tutoring

SAN FRANCISCO, March 27, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today released findings from the 20th edition of the Reality Check: Paycheck-to-Paycheck research series, conducted in partnership with PYMNTS. The Supplemental Income Edition examines how U.S. consumers are turning to alternative sources of income to supplement what they receive from regular full-time employment to improve their financial standing.

Key Points: 
  • The Supplemental Income Edition examines how U.S. consumers are turning to alternative sources of income to supplement what they receive from regular full-time employment to improve their financial standing.
  • Sixty percent of consumers surveyed say they are employed, with nearly half of this group also holding a side job or earning some other form of supplemental income.
  • One point of differentiation among consumers is that high-income consumers are more likely than average to receive supplemental income that does not derive from a side job: 24% do so, while only 17% of all consumers receive other supplemental income.
  • Supplemental income tends to come from active engagement (such as selling used items or selling artisan products) and 22% of employed consumers received supplemental income in the last three months.

PockBox Relaunches to Help 1 Million Americans Get the Credit They Need

Retrieved on: 
Friday, March 17, 2023
LendingClub, Confusion, Growth, JPMorgan Chase, FDIC, Credit, Bank, SocietyOne

Rosemead, California, March 17, 2023 (GLOBE NEWSWIRE) -- PockBox , the next-generation online loan comparison site, has relaunched with a mission to empower one million U.S. borrowers to access credit.

Key Points: 
  • Rosemead, California, March 17, 2023 (GLOBE NEWSWIRE) -- PockBox , the next-generation online loan comparison site, has relaunched with a mission to empower one million U.S. borrowers to access credit.
  • By working with a broad array of lenders, PockBox can instantly route consumers with any credit score to credit providers who may fit their needs.
  • Despite this growth, millions of Americans still struggle to obtain credit, with 25% of U.S. households unbanked or underbanked, according to the FDIC.
  • Harad recognizes the urgent need for a better, more consumer-friendly way to find credit: “Borrowers shouldn’t have to work hard to find the best credit offers.

Rejuvenating Fertility Center Updates Its IVF Plus Program and its Financing Options Amid Inflation

Retrieved on: 
Tuesday, March 7, 2023
Transfer, LendingClub, Ozone, Patient, Freezing, PCOS, Infertility, Hysterosalpingography, Risk, Fertility, Fertilisation, Lipid emulsion, Male, HSG, PRP, RFC, Polycystic disease, Woman, Cryopreservation, ICSI, Platelet-rich plasma, PGT, Diagnosis, Genetic testing, Polycystic ovary syndrome, Family, IVF, STD, Semen analysis, SIS, Pregnancy, FET, Birth control, Mineral oil

The comprehensive IVF treatment program at Rejuvenating Fertility Center covers three cycles to be completed within 9 months from the start of the first cycle.

Key Points: 
  • The comprehensive IVF treatment program at Rejuvenating Fertility Center covers three cycles to be completed within 9 months from the start of the first cycle.
  • With the IVF + Guaranteed Program at RFC, cycle monitoring will be covered when performed at the center.
  • RFC also introduces new financing options in response to inflation:
    CapexMD is known for offering financing options for all types of fertility treatments.
  • Rejuvenating Fertility Center is a medical center specializing in the field of reproductive endocrinology and infertility.

BayFirst National Bank Hires Former GBank VPs, Bolsters Nationally-Ranked SBA Lending Division

Retrieved on: 
Monday, March 6, 2023
Storm, FBBank, Trust, Commerce, Electricity, Business administration, Georgia Tech, SBA, LendingClub, Prairie State College, Jiménez, Seton Hall University, Land o' Lakes High School, United States Department of the Navy, History of the Georgia Institute of Technology, Knowledge, Hispanic, Smith, Real estate, Management, Mathematics, Northeast Bank, Ameris Bancorp

Jimenez brings 23 years of commercial lending experience having specialized in both SBA 7(a) and 504 loans.

Key Points: 
  • Jimenez brings 23 years of commercial lending experience having specialized in both SBA 7(a) and 504 loans.
  • Smith, who also served as vice president, business development officer at GBank, brings more than 20 years of commercial and SBA lending experience.
  • Smith has served as vice president, SBA lending at First Business Bank.
  • Prior to that, he held the title of vice president, business development officer at both Radius Bank and Ameris Bank.

60% of Americans Now Living Paycheck to Paycheck, Down from 64% a Month Ago

Retrieved on: 
Tuesday, February 28, 2023
LendingClub, Reality Check, Female, Debt, LC, NYSE, Credit, Bureau of Labor Statistics, Federal Reserve, Partnership, Nayar, Structure of the Federal Reserve System, Optimism, SAN, Behavior, Bureau, Government, The New Reality (TV program), Bank, Retail

SAN FRANCISCO, Feb. 28, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today released findings from the 19th edition of the Reality Check: Paycheck-to-Paycheck research series, conducted in partnership with PYMNTS. The Debt and Credit Deep Dive Edition examines the impact of U.S. consumers' 2022 holiday spending on their credit card debt.

Key Points: 
  • The Debt and Credit Deep Dive Edition examines the impact of U.S. consumers' 2022 holiday spending on their credit card debt.
  • As of January 2023, 60% of United States adults, including more than four in 10 high-income consumers, live paycheck to paycheck, down 4 percentage points from January 2022.
  • "Consumers living paycheck to paycheck dropped for the first month of 2023.
  • As consumers adapt to today's inflationary pressures, managing credit card debt is top of mind, especially among those living paycheck to paycheck.