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How does LC set the base interest rate (currently 5.05%)?

Started by Peter, June 09, 2013, 11:00:00 PM

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viking

How does LC set the base interest rate (currently 5.05%: https://www.lendingclub.com/public/how-we-set-interest-rates.action)?" class="bbc_link" target="_blank">https://www.lendingclub.com/public/how-we-set-interest-rates.action)?
Wouldn't a lower base rate increase the number of borrowers vs lenders and potentially increase LC's profits (more origination fees - provided that all loans still get funded of course)?


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