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12

LendingClub Revises Loan-Sales Volume Downward After a Mistake

By Tony Seruga

LendingClub Corp., which was shaken by the surprise resignation of its founder last month, revised its weekly loan-sales numbers downward after making a mistake.

The company had reported a spike in weekly sales as of May 31, but the corrected data shows that sales actually fell 3 percent from the previous period to $21.4 million, according to Brad Berning, senior research analyst at Craig-Hallum Capital Group. LendingClub mistakenly listed loans it funded itself as being sold to investors. The Wall Street Journal reported the revision earlier Friday…

LendingClub Revises Loan-Sales Volume Downward After a Mistake

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