LendingClub Completes Standard Operating Agreement for New Bank
LCLendingClub(LC) PYMNTS·2024-02-03 06:59

LendingClub exited the standard operating agreement for a new bank with the Office of the Comptroller of the Currency, having met all the requirements noted in the operating agreement. The company now has more autonomy and flexibility in how it runs the business and deploys capital, while it continues to work closely with regulators. The operating agreement began in connection with LendingClub’s acquisition of Radius Bancorp and the formation of LendingClub Bank in February 2021, the company said in a Frida ...