It's been a tough go for stocks in 2022. Inflation is stubbornly high, and the Federal Reserve has been aggressively raising interest rates in its efforts to bring it down. Since March, the Fed has hiked the benchmark federal funds rate from essentially zero to over 3%, -- the fastest it has boosted rates in decades.

The asset volatility that those rate increases have triggered has hit fintechs particularly hard. The ARK Fintech Innovation ETF is down by more than 70% since November 2022.

One rock-solid fintech that has been caught up in the wave of selling is LendingClub (NYSE: LC). It has achieved impressive growth, but now it trades at a dirt-cheap valuation.

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Source Fool.com