LendingClub reported increased revenue and net income for the second quarter of this year, exceeding Wall Street expectations. The San Francisco-based lender posted a net income of $38.2 million in an earnings report released after market close on Tuesday, achieving a 156% increase from the previous year and earning more than double what consensus estimates had predicted.
Two months after vowing to kill the previous administration's rule on the sharing of customer data between banks and fintechs, the Consumer Financial Protection Bureau is revisiting the issue. The agency says it plans to write a new advanced notice of proposed rulemaking, a starting point for a new rule, in three weeks.
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