Did anyone else take the survey LC sent in regards to their potential new offers? They have been talking about expanding in banking areas. The survey was asking questions about a lot of potential offerings. The three that peaked my interest were:
1-A CD that is tied to an index (i.e. S&P) and has a floating rate of return.
2-A CD that is tied to an index of Lending Club notes.
3-A high interest saving accounts for investors of Lending Club notes.
We'd need to see many details in regards to interest rate, risk, minimum deposits, ect, but I think the concepts were sound.
Any thoughts?
I was not targeted by this survey.
I hate to be a Debbie Downer, but LC has neglected its retail investors for years (website hasn't been updated, secondary marketplace shut down, poor loan availability and underwriting, etc.). I just don't see myself reinvesting in the LC ecosystem without some giant incentive. How can LC compete with an index fund or ETF from one of the many discount brokerages with no commissions? Considering we have double-digit unemployment in this country right now, I just don't think it is wise to invest in consumer lending either.