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Financials

BRIEF-Lendingclub says Bradley Coleman named interim CFO

Aug 8 (Reuters) - Lendingclub :

* Lendingclub says “in q2, we purchased $135 million in loans and then resold the majority to investors”

* Lendingclub says “we took steps to enhance asset quality and investor returns by increasing rates and tightening credit” during quarter

* Lendingclub says “following May 9th, we faced a significant disruption in our capital supply”

* Lendingclub says post May 9th, banks group were the most affected by announcements on may 9th

* Rates rose by weighted average 135 basis points since Dec, bringing weighted average platform right on standard program to just over 13%

* Reduced approval rates for some segments to eliminate 9% of higher risk personal loan population that exhibited propensity to accumulate debt

* Custom personal loans amounted to $296 million or 15% of platform originations in the second quarter

* In the interim, bradley coleman named interim CFO

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