Courtesy of LendingClub
By Reuters
October 14, 2016

(Reuters) – Online lending platform operator LendingClub said it had raised interest rates for some of its loans and tightened credit policy that would result in certain high-risk borrowers being denied loans.

The company’s interest rate hikes were mostly for loans deemed relatively more risky by the company, chief investment officer Siddhartha Jajodia wrote in a letter to investors on Friday.

LendingClub (lc) said it expects loans originated from the second half of 2016 to benefit from these changes.

SPONSORED FINANCIAL CONTENT

You May Like

EDIT POST