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What the Fed Rate Hike Means to You, Main Street America

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Banks and lenders, online and off, are already rolling out new interest rate increases, which will make things more expensive for consumers. "Many major U.S. banks reported lifting their prime rate by 0.25% in response to the Fed's announcement, and Lending Club also increased its rates on new loans by an average of 0.25%," LendingClub stated in an email this week to TheStreet.