Author Topic: Email - "An Update on Note Availability in Your State" (Now unavailable in NY+)  (Read 39226 times)

jrl

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Almost  4 months and still no updates from LC!

Just talked to them earlier today, they're expecting to be back up in NY "soon" (take that with a grain of salt!) and will email investors when it's done. Hopefully it's not more than a few months.

welkestein

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Thank you very much for the solution. It really helps.

LiKenun

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Almost  4 months and still no updates from LC!

Just talked to them earlier today, they're expecting to be back up in NY "soon" (take that with a grain of salt!) and will email investors when it's done. Hopefully it's not more than a few months.
If they pull through, Iím back on board.

jrr6415sun

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Almost  4 months and still no updates from LC!

Just talked to them earlier today, they're expecting to be back up in NY "soon" (take that with a grain of salt!) and will email investors when it's done. Hopefully it's not more than a few months.

They told me back in November it would be "soon", so I wouldn't get my hopes up

jrr6415sun

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anyone heard an update to this? I still can't invest

Edward Reid

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anyone heard an update to this? I still can't invest

I'd go with your previous comment ... don't get your hopes up.  :o

Edward

Fred93

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Given the rate at which LC is reducing allocation to the retail market, I can't imagine that they would allocate $ toward lawyers to get one state back online for retail investors.

jrl

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Given the rate at which LC is reducing allocation to the retail market, I can't imagine that they would allocate $ toward lawyers to get one state back online for retail investors.

It was a few states, NY being one of the biggest.

https://www.lendingclub.com/investing/investor-education/what-are-the-eligibility-requirements-to-invest-through-lendingclub

FWIW, the population of the states with no access to the LC primary market currently accounts for a third of the US population. This includes the 2nd, 3rd, 4th, 5th, 7th, 9th, 14th, 37th, 48th, and 49th most populated states. As far as I'm aware, Ohio (#7) and Pennsylvania (#5) never had access to the primary market.

https://en.wikipedia.org/wiki/List_of_states_and_territories_of_the_United_States_by_population

Presumably, that means that around a quarter of LC's customers were kicked off the primary market in the fall.

Again, not getting my hopes up, but NY is 4th most populated state, with nearly 6% of the US population. TX, NY, and FL together represent over 1/5 of the US population. That means over 20% less profit/revenue from the retail segment if this keeps up.

jrr6415sun

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well now i'm glad lending club blocked my state. Prevented me from reinvesting $20k in what would be really risky assets right now.

LiKenun

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Seems like they unblocked 2 states. The blocked states are now: AK, FL, NC, NM, NY, PA, and OH (both primary and secondary market). NY is still on that list unfortunately, but it shows that some progress is being made.