By Sabela Ojea
LendingClub Corp. on Friday warned about potentially losing funds on deposit of $21 million following the collapse of Silicon Valley Bank.
The San-Francisco based lender said the $21 million amount isn’t material to its liquidity position or capital levels, and doesm’t pose a risk to the group’s business or operations.
But the recovery of the funds will, however, be subject to the Federal Deposit Insurance Corporation process, it added.
Write to Sabela Ojea at email@example.com; @sabelaojeaguix
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