LC / LendingClub: Playbook For A Recession

LendingClub saw loan originations continue to decline in the quarter ended Sept. 30 as bank investors remain cautious. more_horizontal

The headline numbers for LendingClub (LC) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to more_horizontal

LendingClub Corporation (NYSE:LC ) Q3 2023 Earnings Conference Call October 25, 2023 5:00 PM ET Company Participants Artem Nalivayko - Vice President more_horizontal

LendingClub is laying off 172 employees — about 14% of its workforce — to reduce costs and navigate the “challenging macroenvironment.” The m more_horizontal

LendingClub Corp. LC, -6.19% on Thursday said it would reduce its workforce by around 14%, or 172 employees, as it navigates what it said were “macr more_horizontal

LendingClub has tapped Santander Consumer as the primary loan servicer for its auto refinance portfolio.  The partnership, announced Tuesday (Sept more_horizontal

The company is still facing big pressures on its marketplace business and these aren't likely to go away this year. The expansion of its own loan port more_horizontal

LendingClub beat quarterly estimates but revenue and earnings were down sharply from a year ago. Guidance called for a sequential decline in loan orig more_horizontal