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Lending Club

·Oct. 18, 2017

Lend Academy Article: Lending Club Sweetens the United Airlines Frequent Flier Promotion

Lending Club has a new deal for investors to earn United miles; last year the initial program awarded 1 mile for every $2 invested; now investors will earn 1 mile for every $1 investors; the program is open to new and existing investors and is valid until January 9, 2018. Source

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Fintech News Roundup USA

·Oct. 16, 2017

Renaud Laplanche Discusses Lending Club Exit and New Venture Upgrade

Business Insider interviewed Renaud Laplanche last week at LendIt Europe; on his exit from Lending Club, Laplanche stated, “It was very, very frustrating. I'm not commenting on the story, but the best way to actually understand what really happened is to read the filings. I think the press made it sound a lot worse, a lot more sensational, than it really was.”; he is taking what he learned from building Lending Club and applying it to his new company Upgrade; Laplanche stated that he hopes to launch a new product each year with possible expansion into mortgages, auto loans, credit cards, home equity and lines of credit. Source

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Peer to Peer Lending

·Oct. 2, 2017

Lending Club and Prosper Data: 10 Years In

Lending Club and Prosper have both been around over 10 years now. A lot has changed since both companies were...

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Peer to Peer Lending

·Sep. 11, 2017

Lending Club Announces Launch of Next Generation Credit Model

Today, Lending Club announced a new credit model in an email to investors. According to the email, this is the...

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Peer to Peer Lending

·Sep. 5, 2017

Marketplace Lenders Lending Club and Prosper Respond to Hurricane Harvey

Hurricane Harvey has already had a tremendous impact on Texas. Part of the impact is the financial stress it has...

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Peer to Peer Lending

·Oct. 17, 2017

Lending Club Sweetens the United Airlines Frequent Flier Promotion

A year ago Lending Club launched a deal for new investors with United Airlines. New investors could earn 1 MileagePlus...

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Fintech News Roundup USA

·Oct. 3, 2017

Lend Academy Article: Lending Club and Prosper Data: 10 Years In

Lend Academy looks at 10 years of data from Lending Club and Prosper; shares data on returns over the time period and where current returns are trending. Source

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Fintech News Roundup USA

·Sep. 18, 2017

PeerIQ Analyzes Lending Club and SoFi Securitizations

The recent PeerIQ weekly newsletter discusses the departure of Mike Cagney from SoFi, the Goldman & Mosaic deal and provides an analysis of recent SoFi (SCLP 2017-5) and Lending Club (CLUB 2017-P1) securitizations. Source

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News Roundup Online Lending USA

·Sep. 6, 2017

Lend Academy Article: Marketplace Lenders Lending Club and Prosper Respond to Hurricane Harvey

Both Lending Club and Prosper have announced several programs to help borrowers affected by Hurricane Harvey; Lend Academy shares an email to Lending Club investors which states approximately 30,000 live in the affected areas; Lending Club has made changes around collections calls, late fees, credit bureau reporting and hardship plans; Prosper has taken similar actions by waiving late and NSF fees as well as adjusting payment schedules. Source

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News Roundup Online Lending USA

·Aug. 29, 2017

Chart of the Week: Lending Club and Prosper’s Q217 Originations

Consumer lenders Lending Club and Prosper are reporting growth in originations; for the second quarter Lending Club loan originations reached $2.1473 billion, increasing 10% from the previous quarter and the second quarter of 2016; Prosper originated $774.7 million worth of loans in the second quarter of 2017, an increase from $586 million in Q1 and $445 million in the second quarter of 2016; both companies had high Q1 2016 originations which has kept first half 2017 totals down in comparison to 2016. Source

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