Ecommerce News and Headlines

LendingClub Says 60% of LevelUp Checking Customers Are Also Borrowers

LendingClub posted a 40% YoY jump in Q4 loan originations to $2.6 billion, driven by strong uptake of its LevelUp savings and checking products. LevelUp checking accounts now have 60% of new users who are existing personal‑loan borrowers, and total deposits rose 8% to $9.8 billion. Net interest margin improved to 6%, while credit losses stayed modest. Despite these gains, the stock fell 7% after hours as investors weighed higher marketing costs and margin pressure.