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LendingClub Corporation (LC) is a digital-first financial services company that operates a nationally chartered digital marketplace. The company specializes in providing innovative lending, deposit, and debt management products to its members, leveraging data and technology to enhance access to credit and improve financial outcomes. LendingClub offers a range of loan and deposit products, including personal loans, small business loans, and high-yield savings accounts.
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LendingClub Bank - Provides a comprehensive suite of financial products and solutions, including personal loans, small business loans, and deposit accounts. Engages in loan origination, loan sales to investors, and deposit gathering activities.
- Loan Products: Offers unsecured personal loans, patient and education finance loans, and secured auto refinance loans. Features include balance transfers, joint applications, and the TopUp product for loan consolidation.
- Commercial Lending: Focuses on small business loans, participating in U.S. Small Business Administration (SBA) lending programs.
- Deposit Products: Offers FDIC-insured high-yield savings accounts, checking accounts, and certificates of deposit (CDs). Includes LevelUp Savings, which rewards members with competitive interest rates for positive savings behavior.
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LendingClub Corporation (Parent Only) - Reflects operations prior to the acquisition of LendingClub Bank, including servicing fee revenue on purchased servicing assets and interest income and expense related to pre-acquisition transactions.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Scott Sanborn ExecutiveBoard | Chief Executive Officer (CEO) | CEO of LendingClub since June 2016. Previously, he served as President (April 2016 to May 2017), Chief Operating and Marketing Officer (April 2013 to March 2016), and Chief Marketing Officer (May 2010 to March 2013). | View Report → | |
Andrew LaBenne Executive | Chief Financial Officer | Andrew LaBenne is the Chief Financial Officer of LendingClub Corporation since September 2022. He previously served as Executive Vice President, Finance at LC from July 2022 to September 2022 and has held CFO roles at Bakkt Holdings, Amalgamated Financial Corp., and JPMorgan Chase & Co.. | ||
Annie Armstrong Executive | Chief Risk Officer | Annie Armstrong is the Chief Risk Officer at LendingClub since March 2020. Previously, she held key risk management roles at Uber and KPMG, contributing significantly to risk strategies in those organizations. | ||
Jordan Cheng Executive | General Counsel and Corporate Secretary | Jordan Cheng is General Counsel and Corporate Secretary at LendingClub Corporation since October 2023, and previously served as Senior Vice President and General Counsel at LendingClub Bank from May 2020 to October 2023. | ||
Allan Landon Board | Director | Board Member at Electronic Caregiver, Inc.; Board Member at Whistic, Inc. | Allan Landon joined LendingClub's Board in February 2021 as a Director and serves as the Chair of the Audit Committee. He brings extensive banking expertise from his prior roles as Chairman and CEO of Bank of Hawaii and CFO of First American Bank. | |
Erin Selleck Board | Director | Erin Selleck is a Director at LendingClub Corporation since February 2021. She brings extensive experience in banking and financial services, previously serving as Senior Executive Vice President and Treasurer at MUFG Union Bank until her retirement in 2014. | ||
Faiz Ahmad Board | Class I Director at LendingClub Corporation | CEO of Paula’s Choice, LLC | Faiz Ahmad joined LendingClub on August 15, 2022 as a Class I Director, serving on the Compensation, Nominating and Corporate Governance, and Operational Risk Committees. He brings extensive digital transformation expertise from external roles such as his current CEO position at Paula’s Choice, LLC since February 2025. | |
Janey Whiteside Board | Class II Director | Partner and CEO of Consello's Growth and Business Development division; Chief Growth Officer of Consello | Janey Whiteside joined LendingClub as a Class II Director on April 20, 2023 and serves on the Compensation Committee and the Nominating and Corporate Governance Committee. She has extensive leadership experience from roles at HSBC, American Express, and Walmart, and she currently holds executive roles at Consello Group. | |
John C. (Hans) Morris Board | Independent Chairman of the Board | Managing Partner of Nyca Partners | John C. (Hans) Morris serves as the independent Chairman of the Board at LendingClub since February 2013, bringing extensive financial services experience from roles at Visa, Citigroup, and as the managing partner of Nyca Partners. | |
Kathryn Reimann Board | Class III Director | Senior Advisor at Oliver Wyman ; Lecturer at University of Miami Law School ; Adjunct Professor and Senior Fellow at New York University School of Law ; Regulatory Advisor to Hummingbird Regtech | Kathryn Reimann has served as a Class III Director on LendingClub’s Board since August 2022, with her term expiring in 2026. She also serves on the Audit Committee and Operational Risk Committee, leveraging her extensive background in regulatory compliance, risk management, and governance. | |
Michael Zeisser Board | Chair of the Compensation Committee | Managing Partner at FMZ Ventures | Michael Zeisser has been on LendingClub Corporation’s Board since September 2019 and currently serves as Chair of the Compensation Committee. He brings extensive strategic and corporate governance experience from his roles as Managing Partner at FMZ Ventures and previous positions at Alibaba and Liberty Interactive. | |
Stephen Cutler Board | Class II Director on the Board of Directors | Board Member at The Metropolitan Museum of Art | Stephen Cutler has served as a Class II Director on LendingClub's Board of Directors since March 23, 2023. He brings extensive regulatory and financial leadership experience from his previous roles as Director of the SEC’s Division of Enforcement, General Counsel and Vice Chairman at JPMorgan Chase, and partner at Simpson Thacher & Bartlett LLP. | |
Timothy Mayopoulos Board | Director | CEO of Power Forward Communities; President and CEO of Silicon Valley Bridge Bank, N.A. | Timothy J. Mayopoulos joined LendingClub as a Director in August 2016 and serves on the Credit Risk and Finance and the Operational Risk Committees. He has extensive leadership experience across the financial and regulatory sectors, including his current roles as CEO of Power Forward Communities since October 2023 and President and CEO of Silicon Valley Bridge Bank, N.A. since March 2023. |
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Given the significant increase in qualitative provisions—including an $8.5 million reserve adjustment as noted—and the anticipated uncertainty ahead, can you elaborate on the specific triggers that might lead to further adjustments in your credit loss provisions and their potential impact on earnings?
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In light of the consistent improvement in loan sales pricing and the recent 30–50 basis points premium achieved on your rated structured certificate deal, what risks do you see in sustaining these pricing gains amid volatile market conditions, and how do you plan to mitigate them?
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While marketing spend has driven top-line growth, initial inefficiencies were noted as incremental marketing investments were less efficient; can you detail your timeline and strategy for optimizing these channels to improve unit economics going forward?
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With increased originations from both the marketplace and your balance sheet channels, how do you reconcile the trade-offs between selling whole loans to banks versus using structured certificates, particularly in balancing pricing, yield, and credit profile advantages?
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Considering your recent capital allocation decision to purchase a building using a similar amount of capital as a potential share buyback, how do you justify this investment versus returning capital to shareholders, especially with stock trading below book value?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Cushion | 2025 | LendingClub acquired Cushion's intellectual property and select talent to integrate an AI-powered spending intelligence platform that tracks bills, manages subscriptions, and monitors BNPL loans, enhancing its DebtIQ and mobile financial products. This move strategically follows its Tally acquisition and aims to boost member financial management capabilities. |
Tally | 2024 | LendingClub acquired Tally's credit card debt monitoring technology to accelerate its product roadmap and enhance member engagement by simplifying credit card management and automating payment optimization, thereby capturing a significant share of the $1.3 trillion credit card refinance opportunity. The financial impact was managed through capitalization and integration, though the cost was not disclosed. |
Unsecured Personal Loans Portfolio | 2022 | LendingClub Bank acquired a $1.05 billion portfolio of unsecured personal loans characterized by a weighted average FICO score of 729, aimed at driving recurring net interest income and enhancing marketplace liquidity. The deal was executed via a competitive bidding process, structured under the fair value option with approximately $4 million in associated expenses offset over time by interest income. |
Recent press releases and 8-K filings for LC.
- Total Net Revenue reached $217.7M (20% YoY increase) with Pre-Provision Net Revenue rising 52% to $73.8M
- Loan originations surged 21% to $2.0B with lifetime originations exceeding $100B
- Q2 2025 guidance projects loan originations of $2.1B–$2.3B and PPNR of $70M–$80M
- Balance sheet strength improved with Total Assets at $10.5B (+13%) and Deposits at $8.9B (+18%)
- Credit performance enhanced as the consumer held-for-investment net charge-off rate dropped to 4.7% from 8.1%
- Product innovation accelerated via DebtIQ enhancements and the acquisition of Cushion’s AI-powered spending intelligence platform, bolstering mobile experiences
- Maintained a strong consumer proposition with over 5M members, an NPS of 81, and strategic capital moves including the purchase of a San Francisco building
- LendingClub Corporation received an investment grade rating from Fitch Ratings for its first rated SLCLC series transaction valued at $100 million.
- The transaction, which marks an expansion of the SLCLC program that has surpassed $4 billion in total originations since its 2023 launch, involved participation from a top global insurance company, broadening investor distribution channels.