Item 8.01 Other Events

On December 2, 2022, LendingClub Bank, National Association ("LendingClub Bank"), a wholly-owned subsidiary of LendingClub Corporation (the "Company"), entered into an agreement with MUFG Union Bank, N.A. ("Union Bank") to acquire a portfolio of unsecured personal loans with a current aggregate principal balance of approximately $1.05 billion (the "Personal Loan Portfolio"). Each of the loans in the Personal Loan Portfolio (each, a "LendingClub Personal Loan") was either (i) originated and sold by LendingClub Bank or (ii) facilitated by the Company but originated and sold by a partner bank.

The LendingClub Personal Loans became available for purchase following U.S. Bancorp's recently completed acquisition of Union Bank's core regional banking franchise.

LendingClub Bank and Union Bank intend to complete the purchase and sale, respectively, of the Personal Loan Portfolio by the end of 2022.

On December 2, 2022, the Company issued a press release (the "Press Release") regarding its acquisition of the Personal Loan Portfolio. A copy of the Press Release is attached as Exhibit 99.1 to this Form 8-K and is incorporated by reference herein.

Forward-Looking Statements

Some of the statements above, including statements regarding the timing of the acquisition of the Personal Loan Portfolio, are "forward-looking statements." The words "anticipate," "believe," "estimate," "expect," "intend," "may," "outlook," "plan," "predict," "project," "will," "would" and similar expressions may identify forward-looking statements, although not all forward-looking statements contain these identifying words. Factors that could cause actual results to differ materially from those contemplated by these forward-looking statements include: the failure of the transaction with Union Bank to be completed; our ability to continue to attract and retain new and existing customers; competition; overall economic conditions; the regulatory environment; demand for the types of loans facilitated by us; default rates and those factors set forth in the section titled "Risk Factors" in our most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission, as well as in our subsequent filings with the Securities and Exchange Commission. We may not actually achieve the plans, intentions or expectations disclosed in forward-looking statements, and you should not place undue reliance on forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements. We do not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.




  Item 9.01    Financial Statements and Exhibits
        (d)    Exhibits



       Exhibit
        Number        Exhibit Title or Description
        99.1            Press Release dated December 2, 2022
                      Cover Page Interactive Data File (Cover page XBRL tags are embedded within
           104        the Inline XBRL document)

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