UPDATE: JPMorgan (JPM) to Acquire Nearly $1B in LendingClub (LC) Loans - DJ

February 1, 2016 11:37 AM EST

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(Updated - February 1, 2016 11:45 AM EST)

JPMorgan (NYSE: JPM) agreed to acquire almost $1 billion in LendingClub (NYSE: LC) loans, according to Dow Jones sources. The portfolio, which had been owned by Santander Consumer, was reportedly sold at a premium to the outstanding balance on the loans, despite fears that the loan value had diminished.

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