This Fintech Stock Is Thriving as Interest Rates Rise
Consumer-lending fintechs that are overly dependent on the capital markets have been hammered this year amid rapidly rising interest rates. Investors like asset managers that typically purchase consumer loans have seen a higher cost of capital to fund these loan purchases and have also grown more concerned about credit quality, with many fearing that the U.S. economy is barreling toward a deep recession.
But the digital marketplace bank LendingClub (NYSE: LC), which combines a leading online personal lender with a bank charter, seems to be navigating the environment well. Let's take a look.
Founded in 2006 and making its public market debut in 2014, LendingClub has been through many different economic cycles and has seen no shortage of ups and downs.
Source Fool.com
