Americans are splurging on personal loans thanks to fintech startups | Quartz


startups

Ten years on from the credit crisis, Americans are again piling on debtin all its varieties, from credit cards to student loans to mortgages. These days, personal loans—a category turbocharged by fintech upstarts—are growing especially quickly. With an increasing number of shaky borrowers taking on this debt, the risks are growing for lenders during the next economic downturn.

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