LendingClub noted in its latest results that deposits on its balance sheet grew as customers gravitated to high-yield savings products, credit quality was strong — and embedded finance solutions may offer a new avenue of future growth. As detailed in the most recent earnings materials, deposits of $7.5...
When consumers facing financial pressures carve out room in their budgets to treat themselves, PYMNTS Intelligence research reveals, it is often to enjoy their favorite movies and series. By the Numbers The “The Nonessential Spending Deep Dive Edition” of the “New Reality Check: The Paycheck-to-Paycheck Report”...
Travel is one of the top ways consumers with healthy financial safety nets treat themselves, PYMNTS Intelligence research finds, and airlines are reaping the benefits. By the Numbers The PYMNTS Intelligence 2023 study “New Reality Check: The Paycheck-to-Paycheck Report: The Nonessential Spending Deep Dive Edition,”...
LendingClub exited the standard operating agreement for a new bank with the Office of the Comptroller of the Currency, having met all the requirements noted in the operating agreement. The company now has more autonomy and flexibility in how it runs the business and deploys...
December 18, 2023
A broad stock market rally was the hallmark of last week’s trading action. The Federal Reserve signaled a pause on interest rate hikes and three possible rate cuts next year. To that end, the CE 100 Index was swept up in the optimism and was 4.2% higher for the week and into its last full […]
December 04, 2023
The CE 100 Index gained 3.1% coming off a Thanksgiving holiday-truncated week with vigor as all segments gained ground. The Communications pillar surged 8.7%. Snap was 12.9% higher in the...
November 28, 2023
Amber Carroll, senior vice president of membership and lifecycle strategy at LendingClub, told PYMNTS that U.S. consumers face a cash drain — but proactive planning can go a long way toward...
November 23, 2023
In today’s challenging economic climate, many consumers find themselves living paycheck to paycheck and struggling to make ends meet. This is why a significant number of these consumers have turned...
February 02, 2024
LendingClub exited the standard operating agreement for a new bank with the Office of the Comptroller of the Currency, having met all the requirements noted in the operating agreement. The company now has more autonomy and flexibility in how it runs the business and deploys capital, while it continues to work closely with regulators. The […]
November 09, 2023
LendingClub has crossed the $1 billion mark in personal loans sold through its Structured Loan Certificates Program (SLCLC Program) since the launch of that program in April. The company expects...
October 25, 2023
LendingClub saw loan originations continue to decline in the quarter ended Sept. 30 as bank investors remain cautious. In response, the firm is promoting new products that meet the needs of...
October 12, 2023
LendingClub is laying off 172 employees — about 14% of its workforce — to reduce costs and navigate the “challenging macroenvironment.” The move will result in savings of about $30 million...
