Oct 14 Online lending platform operator
LendingClub Corp 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
LendingClub said it expects loans originated from the second
half of 2016 to benefit from these changes.
(Reporting by Sudarshan Varadhan and Sruthi Ramakrishnan in
Bengaluru; Editing by Shounak Dasgupta)