LendingClub Corp on Monday cut loan approval rates for some high-risk borrowers and increased income and employment verification requirements, in a sign that alternative lenders could pull back from lending as the coronavirus crisis deepens.
The online lending pioneer also said it had increased interest rates from 2% to 4% for new borrowers, depending on the loan grade.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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