Apr
20
LendingClub Raises Rates as Economic Outlook And Some Loans Sour
By-
Company has been boosting rates for new loans in recent months
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Rates on new loans climbing about 23 basis points, firm says
LendingClub Corp., a pioneer of online marketplace lending, said it raised rates for borrowers again to reflect a gloomier economic outlook and worse-than-expected performance for some of its riskiest loans.
The firm boosted interest rates on new loans by a weighted average of 23 basis points, mainly for lower credit grades, according to a filing on Wednesday. A basis point is one-hundredth of one percent…
LendingClub Raises Rates as Economic Outlook And Some Loans Sour
