Fintech Hikes Rates Too

Responding to the Fed’s rate hike last week, Lending Club (NYSE:LC) boosts rates on new loans on its platform by 25 basis points.

The move is notable as peer-to-peer lenders are thought to be competing (and spending) hard to lure borrowers, while having a long queue of investors banging on the door to lend. Such a dynamic would have argued for Lending Club not needing to hike its rates.

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