Consumer Financing News
June 28, 2017

Top Stories
America's largest online marketplace connecting borrowers and investors, today closed its inaugural self-sponsored securitization deal. The Consumer Loan Underlying Bond (CLUB) NP Credit Trust 2017-NP1 (CLUB 2017-NP1) issued $279.4 million in notes backed by consumer loan assets facilitated through the LendingClub platform. The transaction marks the start of LendingClub's securitization program as Sponsor, Servicer and Administrator. 

Enova International Inc. (ENVA) had a good day on the market for Monday June 26 as shares jumped 5.23% to close at $15.10. About 234,817 shares traded hands on 1,773 trades for the day, compared with an average daily volume of 250,961 shares out of a total float of 33.49 million. After opening the trading day at $14.40, shares of Enova International Inc. stayed within a range of $15.15 to $14.35.

U.S. consumers became more confident in June -with more Americans pleased by current conditions but slightly less hopeful about what the next six months hold. The Conference Board, a business research group, said Tuesday that its consumer confidence index rose to 118.9 this month from 117.6 in May. The gains suggest that many Americans expect the economy to keep expanding, although the pace of growth is unlikely to accelerate much.

Consumer spending accounts for almost two-thirds of the US economy. In 1Q17, consumer spending rose 0.3% YoY (year-over-year), the slowest pace seen since the fourth quarter of 2009. It is also significantly lower than the 3.5% YoY growth seen in 4Q16. The slow growth in consumer spending is due to low demand for heating products and utility services, a result of less severe winter conditions. Another factor that impacted consumer spending was rising inflation.

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