LendingClub Bank’s Operational Agreement Approaches Expiry

Lendingclub Corp. (LC) has released an update to notify the public and investors about a regulation fd disclosure.

LendingClub Corporation’s acquisition of Radius Bancorp, Inc. led to the creation of LendingClub Bank in February 2021, which operated under an Operating Agreement with the OCC. This agreement, outlining the Bank’s operational parameters, was set to expire on February 2, 2024.

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For a comprehensive understanding of the announcement, you can read the full document here.