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United Kingdom

LendingClub Corp (LC.N)

LC.N on New York Stock Exchange

3.92USD
22 Jun 2018
Change (% chg)

$-0.05 (-1.26%)
Prev Close
$3.97
Open
$3.97
Day's High
$4.04
Day's Low
$3.91
Volume
2,092,568
Avg. Vol
1,491,059
52-wk High
$6.56
52-wk Low
$2.58

Latest Key Developments (Source: Significant Developments)

Lendingclub Responds To Federal Trade Commission Complaint
Wednesday, 25 Apr 2018 

April 25 (Reuters) - LendingClub Corp ::LENDINGCLUB RESPONDS TO FEDERAL TRADE COMMISSION COMPLAINT.LENDINGCLUB CORP - "BELIEVES THAT ALLEGATIONS IN FTC'S COMPLAINT ARE LEGALLY AND FACTUALLY UNWARRANTED".LENDINGCLUB CORP - "INTENDS TO OPPOSE CLAIMS AND WORK TOWARDS AN EARLY RESOLUTION OF MATTER IN FEDERAL COURT".  Full Article

Lendingclub Appoints Patty Mccord To Its Board Of Directors
Tuesday, 19 Dec 2017 

Lendingclub Corp ::LENDINGCLUB APPOINTS PATTY MCCORD TO ITS BOARD OF DIRECTORS.LENDINGCLUB - ‍PATTY MCCORD HAS JOINED BOARD OF DIRECTORS, EFFECTIVE DECEMBER 13, 2017​.  Full Article

Lendingclub Q3 loss per share $0.02
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - Lendingclub Corp LC.N:Lendingclub reports third quarter 2017 results.Q3 adjusted earnings per share $0.03.Q3 loss per share $0.02.Q3 revenue $154 million versus I/B/E/S view $157.5 million.Q3 earnings per share view $0.03 -- Thomson Reuters I/B/E/S.Lendingclub Corp sees ‍Q4 total net revenue in range of $158 million to $163 million​.Lendingclub Corp sees ‍q4 adjusted EBITDA in range of $19 million to $23 million​.Q4 revenue view $173.6 million -- Thomson Reuters I/B/E/S.  Full Article

LendingClub rebrands asset management business
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - LendingClub Corp : :LendingClub rebrands asset management business, positions for growth.LendingClub Asset Management - ‍LC advisors, an investment advisor registered with SEC, has rebranded its asset management business​.‍LendingClub Asset Management -in weeks leading up to rebrand co facilitated auction of assets from its legacy funds​.  Full Article

LendingClub is shutting down five of its investment funds- WSJ
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - :LendingClub is shutting down five of its investment funds, including $318 million portfolio that had been marked by accounting issues- WSJ, citing documents‍​.  Full Article

LendingClub unit enters into a warehouse credit agreement ‍​ ‍​
Monday, 16 Oct 2017 

Oct 16 (Reuters) - Lendingclub Corp :LendingClub Corp - on Oct 10, unit of co entered into a warehouse credit agreement ‍​ ‍​.LendingClub Corp - ‍ pursuant to warehouse agreement, lenders agree to provide a $250 million secured revolving credit facility to warehouse - SEC filing​.LendingClub - Proceeds under facility may only be used to purchase certain unsecured consumer loans from co, related rights, expenses related to facility​.  Full Article

Lendingclub announces updated loss forecasts, changes to credit, interest rates
Friday, 14 Oct 2016 

Lendingclub Corp : Announcing updated loss forecasts, changes to credit, interest rates as part of regular and continuous adjustment process . Anticipate loans originated in H2 and going forward to benefit from changes to co's credit policy and co's interest rates . Effective October 14, 2016, interest rates on the Lending Club platform will increase by a weighted average of 26 bps . Rate increases are concentrated in grades F and G with marginal changes in other grades . Lendingclub - About 1 percent of borrowers who previously would have been able to obtain a loan under prior underwriting criteria will no longer be approved . Lendingclub - Interest rates on co's platform increased by weighted average of approximately 135 basis points from Nov. 2015 to June 2016 - sec filing . Lendingclub - Interest rate increases from Nov. 2015 to June 2016 were concentrated in grades D through G - SEC filing Source: (http://bit.ly/2e7Y1pE) Further company coverage: [LC.N] ((bangalore.newsroom@thomsonreuters.com;)).  Full Article

LendingClub says concluded as of June 30, internal control over financial reporting was ineffective
Tuesday, 9 Aug 2016 

LendingClub Corp : Discloses In Form 10Q - As a result, concluded that, as of june 30, Co's internal control over financial reporting was ineffective . During the second quarter of 2016, identified a material weakness in internal control over financial reporting Source (http://bit.ly/2aK133V) Further company coverage: [LC.N] ((Bangalore.newsroom@thomsonreuters.com’;)).  Full Article

Lendingclub says Bradley Coleman named interim CFO
Tuesday, 9 Aug 2016 

Lendingclub : Lendingclub says "in q2, we purchased $135 million in loans and then resold the majority to investors" . Lendingclub says "we took steps to enhance asset quality and investor returns by increasing rates and tightening credit" during quarter . Lendingclub says "following May 9th, we faced a significant disruption in our capital supply" . Lendingclub says post May 9th, banks group were the most affected by announcements on may 9th . Rates rose by weighted average 135 basis points since Dec, bringing weighted average platform right on standard program to just over 13% . Reduced approval rates for some segments to eliminate 9% of higher risk personal loan population that exhibited propensity to accumulate debt . Custom personal loans amounted to $296 million or 15% of platform originations in the second quarter . In the interim, bradley coleman named interim CFO ((Bangalore.newsroom@thomsonreuters.com)).  Full Article

Lendingclub says exploring adding additional sources, structures of capital to increase resiliency, diversity
Tuesday, 9 Aug 2016 

Lendingclub : Roughly 51 percent of second quarter volume was originated prior to may 9 . Lendingclub says took $2.8 million in severance related costs in the second quarter . Lendingclub says plan to reduce/eliminate investor incentives by end of q3; sees higher level of investor acquisition cost in q4 . When co recently made job eliminations, made very little of those in technology engineering area . Slower origination growth during quarter was due to a slowdown in investor capital that occurred post may 9 . Lendingclub says over the long run, anticipate some higher level of investor acquisition cost as co continues to diversify investor mix . Lendingclub says expect origination volumes to be roughly flat for the next two quarters . Going forward, exploring adding additional sources, structures of capital to increase resiliency,diversity that would include committed capital . On unusual costs,co says had employee related severance cost; says those were "definitely" one-time costs, is "not anticipating repeating that" (Bangalore.newsroom@thomsonreuters.com) ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

UPDATE 4-Online lending platform GreenSky edges higher on market debut

May 24 GreenSky LLC, an online platform for consumers to get loans for home improvements or cosmetic surgery, made its market debut on Thursday, with shares rising slightly above the initial public offering price.