Question · Q3 2025
Bill Ryan followed up on the competitive landscape, asking about the impact of increased origination volumes across the board, other companies potentially loosening credit boxes, and fixed-income investors allocating more capital to the sector, specifically if LendingClub has experienced any pressure on its underwriting standards.
Answer
CEO Scott Sanborn affirmed that LendingClub has not faced pressure on underwriting standards, emphasizing that their growth stems from a low base and increased marketing efforts, still operating below historical spend levels in a larger total addressable market. He noted the competitive space remains consistent, with a recent shift in competition from banks to fintechs, and reiterated a commitment to long-term, disciplined underwriting to ensure returns for both LendingClub and its loan buyers.