ABS

LendingClub Corp. named Scott Sanborn to replace its founder and chief executive officer, who resigned unexpectedly last month, and said it will dismiss 179 employees to cope with the decline in loan volume caused by the turmoil.

Bank United in Miami Lakes, Fla., has appointed two former Capital One Financial executives to lead its new equipment and franchise finance subsidiary.

The Canadian subsidiary of CNH Industrial is sponsoring a securitization totaling more than CAN$526 million, backed by agricultural equipment loan receivables.

Spruce Finance, a provider of consumer financing for residential solar and home efficiency improvements in the U.S., has hired Darren Thompson as chief financial officer.

Duke Energy Florida's $1.3 billion utility fee securitization sets an important precedent.

Speculative-grade corporate liquidity seems to have improved over May and June, but Moody's warned the lowering of the stress index is due more to bankruptcy technicals, not "fundamental improvement."

California's new, higher legal smoking age heralds more trouble for tobacco securitization debt, said an analyst who has followed the sector for years.

JPMorgan Chase is issuing its third credit-card securitization of the year – and the second this month – through its Chase Issuance Trust (CHAIT) platform of CHASEseries notes.

SBA Communications is tapping the securitization market for $700 million, according to rating agency reports.

Renewable Funding is preparing its first securitization of Property Assessed Green Energy Bonds, according to Kroll Bond Rating Agency.

Chesapeake Funding I LLC Series 2016-2 follows the $600 million offering in March in the Series 2016-1 Series, which together combine for about half the collateral pool of nearly $2 billion in receivables balances on open-ended vehicle leases serviced by Element Vehicle Management Services Group.

Loan market participants are in an uproar over the announcement by the European Parliament this Monday that it is considering quadruple the amount of skin that originators of asset-backed securities must have in the game.

Duke Energy Florida has launched a $1.3 billion offering of bonds backed by fees it will charge to recover costs associated with the retirement of its Crystal River Unit 3 nuclear power plant

Growth in air travel is slowing, but investors are still snapping up bonds backed by leases on passenger jets.

LendingClub abruptly adjourned its annual shareholder meeting Tuesday, saying it wasn't ready to address investors after a leadership shakeup last month. It also overhauled criteria for the consumer loans it arranges online.

Prior to joining the firm, he was managing director and global head of the natural resources investment banking practice at Barclays.

Vertical Bridge, a cell tower operator founded by former executives of Global Tower Partners, is making its first call on the securitization market.

The asset-backed securitization is being issued in a three-tranche, $183M structure. This is the fourth ABS issued by Commercial Credit Group through CCG Receivables Trust.