Q1 2021 TransUnion Industry Insights Report explores credit trends one year after COVID-19CHICAGO, May 19, 2021 (GLOBE NEWSWIRE) Despite the shockwaves felt from the COVID-19 pandemic, the consumer credit market is strongly positioned as many parts of the country prepare to enter new phases of re-opening this summer. The just-released Q1 2021 TransUnion (NYSE: TRU) Industry Insights Report found that consumers are performing well one year since the pandemic began as serious delinquency rates remain mostly down and loan originations continue to rise from COVID-19 lows. The improvements are occurring against a backdrop of a pandemic that caused one of the greatest shocks in the history of the American economy. In March 2020, the unemployment rate stood at 4.4%. In April 2020, it jumped to 14.7% the highest reading since 1940. A consequence of this dramatic rise was an equally immense slowdown in loan originations. Some lenders tightened their standards and consumers held back on open
LendingClub Reports Fourth Quarter and Full Year 2020 Results
Originations Increase 56% Quarter-over-Quarter, Exceeding High End of Guidance Range
Acquisition of Radius Bancorp Creates First Digital Marketplace Bank in the U.S.
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SAN FRANCISCO, March 10, 2021 /PRNewswire/
LendingClub Corporation (NYSE: LC), America s first digital marketplace bank, today announced financial results for the fourth quarter and full year ended December 31, 2020. I am proud of our accomplishments in 2020, which led us to complete the groundbreaking acquisition of Radius Bank. Combining the award-winning digital bank with LendingClub s leading online marketplace provides us with substantial advantages over both traditional banks and fintech marketplace lenders, said Scott Sanborn, Chief Executive Officer of LendingClub. Adding deposit capabilities builds on our tech and data advantages as it allows us to better serve our more than 3 million loyal and highl