Agreements between Lending Club and WebBank

PLA today posts amended and restated versions of the principal agreements between Lending Club and WebBank. The new agreements are available on the “Deals and Technology Resources” page (see the “WebBank Agreements” section at the bottom of the page).  The revised agreements address concerns created by the Madden v. Midland Funding decision, which was previously discussed on PLA, with WebBank maintaining an on-going economic interest in the loans following their sale to Lending Club.  We would welcome readers’ thoughts about whether the recent decision in Edwards v. Macy’s materially mitigates these concerns.