Investors have doubts about the latest American fintech bank

Investors have doubts about the latest American fintech bank

David Ellison, a money manager for financial company stocks, says LendingClub’s acquisition of a regulated bank is a good move for the fintech. “I wouldn’t own the stock,” said Ellison of Hennessy Funds, which oversees $4.8 billion in assets. LendingClub’s purchase of Radius Bank for $185 million is likely to add revenue and provide stability.