Another Bay Area fintech eyes gold as it pushes into margin lending
Business Journal - Friday 21st April, 2017
Bay Area-based Wealthfront has jumped into the business of margin lending as more fintech startups see how lucrative it is to lend money.
Wealthfront told clients in a blog this week that it now offers a 'margin-lending product' called a portfolio line of credit. The credit line cannot be used to buy more stock in the same Wealthfront account. To guard against that, every dollar arriving into the borrower's Wealthfront account reduces the loan balance.
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