NEW YORK (Reuters) - U.S. online lenders such as LendingClub Corp, Kabbage Inc and Avant LLC are scrutinizing loan quality, securing long-term financing and cutting costs, as executives prepare for what they fear could be the sector’s first economic downturn.
They are taking safeguards because they do not rely on government for insurance. The bond rates should jump after the recession and bailout, ton line lenders will lose many depositors to government debt and need to restrict loans early.
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