In February 2024, LendingClub’s agreement with the OCC expired, allowing the fintech company to pursue faster growth opportunities with its excess capital. The agreement, which was imposed at the time of LendingClub’s acquisition of Radius Bank, imposed capital restraints and growth limits on the company. LendingClub is now free to use its $400 million in excess capital for initiatives such as expanding its structured certificate program. While LendingClub’s valuation is still a fraction of its IPO price, the company is now less constrained and will be able to pursue growth opportunities more aggressively.
Hot off the press: Fintech Nexus Newsletter reveals LendingClub-OCC agreement expiration
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