Fintech

LendingClub’s newest problem: Its borrowers

Charge-off rates have risen as much as 38% since 2013 at the largest online lender

LendingClub’s newest problem: Its borrowers
Photo: Getty Images

Online lenders once dazzled investors with the promise that sophisticated, fast data mining could identify the best borrowers.

In practice, the results haven't always been as impressive.

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