Peer-to-Peer Lenders Face Legal Blow in Usury Ruling

Corrected
  • Lenders face cutting rates on some loans after petition denied
  • LendingClub says 12.5% of its loans may exceed limits

LendingClub Corp. and other companies that arrange consumer loans over the Internet are running out of options in avoiding a legal blow that may force them to lower interest rates they charge certain borrowers.

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