Bloomberg Talks LendingClub CEO Scott Sanborn Talks Credit & Holiday Spending
Dec 3, 2025
Scott Sanborn, CEO of LendingClub, shares insights on consumer credit trends as the holiday season approaches. He discusses the profile of their 'middle majority' customers, revealing the complexities of income data. Sanborn also highlights LendingClub's evolved marketplace strategy and the importance of being selective with borrowers. He dives into the mechanics of debt consolidation and why high credit card rates persist. Additionally, he notes the resilience of consumers, despite mixed spending sentiments, as they navigate the holiday hustle.
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Middle Majority Is LendingClub's Core
- LendingClub serves the "middle majority," roughly a third of the US and nearly half the credit wallet.
- These customers earn roughly $80k–$200k and are heavy users of non-mortgage credit.
Balance Sheet Enables Better Credit Performance
- Holding loans on the balance sheet lets LendingClub test products and align incentives with loan buyers.
- That approach yields lower delinquencies, roll rates, fraud and better recoveries than peers.
Keep A High-Velocity Test Pipeline
- Constantly test pricing and underwriting to reflect real-time consumer behavior.
- Keep hundreds of active experiments to maintain consistent credit performance.