The Lending Club

Personal loans have surpassed credit card loans in recent years, but companies like LendingClub are making it possible for consumers to pay down their debts and save more.  In this episode of The Yield, Peter Kerr, CFA, and Scott Sanborn, CEO of LendingClub, discuss  reinventing the banking industry to help put millions of Americans on the path to financial success. LendingClub is the only full spectrum fintech marketplace bank at scale and has helped more than 3 million Americans save billions of dollars since it was founded in 2007. Key Takeaways:[1:30] Scott’s journey from e-commerce into the digital banking space. [7:53] The value of LendingClub within the challenger lending space. [11:31] How can LendingClub offer such competitive rates? [15:35] Regulatory considerations that impact the banking model. [18:25] The impact of the pandemic on LendingClub and on consumer behavior. [24:55] Which borrowers performed best during the pandemic, and what does the financial future hold for consumers? [27:24] A pandemic playbook and other secrets of effective company management. [31:26] Lessons learned from Scott’s advertising background and how he makes lending fun. Mentioned in This Episode:Yieldstreet