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Why SoFi Stock Was Sliding This Week

Why SoFi Stock Was Sliding This Week

Shares of SoFi Technologies (NASDAQ: SOFI) were pulling back this week after the fintech that offers everything from banking services to student and auto loans got two pieces of bad news. First, the Biden administration said it was again extending the pause on student loan payments until next June, limiting a key revenue source for SoFi because it makes money on student loan processing fees. Second, a Senate banking committee posted an opening letter asking to review SoFi's crypto products.