LendingClub Loan Originations Surge 27% as Consumers Look to Consolidate Debt

LendingClub's latest quarterly results show an acceleration of loan originations, and banks have moved back to the company's platform as consumers look for ways to consolidate and pay down debt — particularly credit card debt. The company's earnings supplementals indicated that loan originations were up 6% sequentially to $1.9 billion, where that tally had been $1.5 billion in the third quarter last year, up nearly 27%. CEO Scott Sanborn said on the conference call with analysts that "credit outperformance ...