On Tuesday, LendingClub Corp (NYSE:LC)’s shares inclined 2.83% to $12.00.
Lending Club (LC), the world’s largest online marketplace connecting borrowers and investors, declared recently that Springstone Financial, LLC (Springstone), a partner of Lending Club, agreed to settle with the Consumer Financial Protection Bureau (CFPB) related to the staff’s concerns on possible borrower confusion about the terms of a deferred interest product, which was terminated by Lending Club shortly after its acquisition of Springstone in April 2014.
To resolve this matter, Springstone agreed to pay restitution of $700,000 to certain borrowers in its finance program from 2009 to 2014. The settlement amount is fully covered by the indemnification provisions of the Springstone purchase agreement and therefor will not result in any adverse financial charge to Lending Club.
Lending Club formerly revealed in its filings with the U.S. Securities and Exchange Commission that it was engaged in talk aboutions with the CFPB in connection with Springstone’s previous financing products. The settlement does not involve any penalties or fine or admission of wrongdoing on the part of Springstone or Lending Club or their employees, directors, officers or agents.
LendingClub Corporation operates as an online marketplace for connecting borrowers and investors in the United States. Its marketplace facilitates various types of loan products for consumers and small businesses, counting unsecured personal loans, super prime consumer loans, unsecured education and patient finance loans, and unsecured small business loans.
Ally Financial Inc (NYSE:ALLY)’s shares dropped -0.24% to $20.79.
In honor of Back-to-School season, Ally Financial recently joined with local nonprofit Classroom Central to donate school supplies to all 830 students at Thomasboro Academy in Charlotte, N.C. Each student will receive a package of the school supplies they need for the year. In addition, Ally has also contributed 50 books for the school’s library that are focused on various financial literacy concepts and span all grade levels from pre-kindergarten through eighth grade.
Ally Financial Inc. provides financial products and services primarily to automotive dealers and their customers in the United States. It offers dealer financial services, counting a range of financial services and insurance products to automotive dealers and retail customers.
At the end of Tuesday’s trade, Mosaic Co (NYSE:MOS)‘s shares dipped -1.75% to $37.57.
The Mosaic Company (MOS) stated second quarter 2015 net earnings of $391 million, contrast to $248 million in the second quarter of 2014. Earnings per diluted share were $1.08 in the quarter contrast to $0.64 last year. Notable items positively influenced current quarter earnings per share by $0.03. Mosaic’s net sales in the second quarter were $2.5 billion, up from $2.4 billion in sales last year. Operating earnings during the quarter were $510 million, up from $403 million a year ago. The year-over-year change was driven by higher phosphates operating earnings primarily as a result of higher sales volumes, and higher potash operating earnings as a result of higher realized prices and benefits from lower operating costs, partially offset by higher Canadian resource taxes.
The Mosaic Company produces and markets concentrated phosphate and potash crop nutrients for the agricultural industry worldwide. It operates through two segments, Phosphates and Potash. The Phosphates segment owns and operates mines in Florida. It offers concentrated phosphate crop nutrients, such as diammonium phosphate, monoammonium phosphate, and ammoniated phosphate products. This segment also offers phosphate-based animal feed ingredients primarily under the Biofos and Nexfos brand names.
Paychex, Inc. (NASDAQ:PAYX), ended its Tuesday’s trading session with -2.43% loss, and closed at $42.92.
For the second straight month, the Paychex | IHS Small Business Jobs Index was relatively unchanged, increasing slightly from 100.63 in June to 100.64 in July. The national index has seen little movement in recent months, essentially remaining flat from May to July. Still trailing employment growth seen in 2014, the index was down 0.46 percent from the previous July. The East North Central region continues as the highest-ranked regional index. Washington maintained its lead among states, and for the 10th straight month, Dallas ranked number one among metro areas for employment growth with an index level surpassing 105.
Paychex, Inc. provides payroll, human resource, insurance, and benefits outsourcing solutions for small to medium-sized businesses in the United States and Germany. The company offers payroll processing services that comprise the calculation, preparation, and delivery of employee payroll checks; production of internal accounting records and administration reports; preparation of federal, state, and local payroll tax returns; and collection and remittance of clients payroll obligations.
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