BlackRock Investing $1 Billion in LendingClub's Marketplace

Group 1 - BlackRock has entered into a partnership with LendingClub, allowing up to $1 billion in investments through LendingClub's marketplace programs over the next year [2][3] - The collaboration follows BlackRock's initial transaction of $100 million under LendingClub's LENDR program, which offers multiple tranches with credit ratings from Fitch [3][4] - LendingClub has successfully sold nearly $6 billion in loans through its structured certificates programs since their launch in 2023 [4] Group 2 - LendingClub's LevelUp Checking service rewards customers with 2% cash back for on-time loan payments and 1% cash back for qualifying debit card purchases [5] - The target demographic for LevelUp Checking includes high-income individuals with a FICO score around 725 and an income range of $125,000 to $130,000 [6] - Since the launch of LevelUp Checking in June, there has been a six-fold increase in the number of checking accounts opened daily [7]