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Briefing

Lending Club Acquiring Small Bank

By
Kevin Dugan
· · Source: The Information

Lending Club announced Tuesday it was acquiring a small, Boston-area bank in a bid to get government approval to become a bank—but the fintech company has a long slog ahead before the deal could go through.  The proposed $185 million acquisition of Radius Bank would lower capital costs for Lending Club, according to an announcement by the San Francisco lender. However, the deal requires...

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