LendingClub slumps on credit deterioration, higher rates

LendingClub Corp., the arranger of online consumer loans, declined in New York trading after citing higher delinquencies by borrowers. LendingClub dropped 7.2 percent to $4.99 at 4:15 p.m. in New York, the steepest fall since June. The company late Friday announced that it was raising interest rates that it charges and tightening credit standards. Read more: www.bloomberg.com.