Complaints

This profile includes complaints for LendingClub Corporation's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

close

Find a Location

LendingClub Corporation has 11 locations, listed below.

*This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

BBB accredited

Near

Country

USUnited States

Please enter a valid location.

Filter

• 

  LendingClub Corporation

  595 Market St # 200 San Francisco, CA 94105-2802

  
• 

  LendingClub Corporation

  PO Box 56480 Portland, OR 97238-6480

• 

  Lending Club

  P.O. Box 1309 Coppell, TX 75019

• 

  LendingClub Corporation

  71 Stevenson St. #301 Jackson, MS 39201

• 

  LendingClub

  3113 Clearview Dr Indianapolis, IN 46228-1067

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:05/17/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  To whom it may concern,I had two accounts/loans with ************ that were paid off on 5/3/2024.************ had my PNC account direct payments set up for over two years.When the loans were paid off, apparently , they tried to deposit overpaid amount into an account that I used two years ago and did not use for the direct payments with them for over two years.When I called, 1st time they informed me that I should have my refund on the 5/13/2024, 2nd time I called, they said on the 5/16/2024, 3rd time I called I should get it on the 17th, 4th time I called they informed me that they used the wrong account and now they will just mail a check and it will take 5-7 business days for me to receive it. It will take us to 5/24/2024. 21 DAYS AFTER THE LOANS WERE PAID OFF.They didnt offer overnighting the funds or direct deposit into a correct account!I believe it was a fraudulent activity on their part.Please advise whom should I contact to rectify this mess.

  

  Business Response

  Date: 05/23/2024

  Thank you for giving LendingClub ****, N.A. (LendingClub) the opportunity to respond to ******************* Better Business Bureau (BBB) complaint dated May 17, 2024. LendingClub strives to provide the very best service to our customers and appreciates their feedback.

  LendingClub records report that *************************** had two balance transfer loans with us.
  

  LendingClub records report that ******************* first balance transfer loan ending in x727 originated on October 11, 2022.Contractual monthly payments were received on the loan from November 2022 to April 2024. A payment was received on May 2, 2024, to fully pay the loan. Please allow up to 10 days for processing and the account to be considered fully paid.
  

  On May 13, 2024, LendingClub disbursed an overpayment for ******************* loan ending in x727 to their primary bank account. **** of America was established as their primary bank account when they opened this loan ending in x727. The disbursement failed and as per policy, LendingClub submitted a request to process an overpayment refund check on May 17, 2024. On May 20, 2024, LendingClub mailed an overpayment check to their mailing address on file.
  

  LendingClub records report that ******************* second balance transfer loan ending in x824 originated on August 1, 2023.Contractual monthly payments were received on the loan from September 2023 to May 2024. A payment was received on May 2, 2024, to fully pay the loan. Please allow up to 10 days for processing and the account to be considered fully paid.
  

  On May 13, 2024, LendingClub disbursed an overpayment for ******************* loan ending in x824 to their primary bank account. **** of America was established as their primary bank account when they opened their first loan ending in x727. The disbursement failed and as per policy, LendingClub submitted a request to process an overpayment refund check on May 17, 2024. On May 20, 2024, LendingClub mailed an overpayment check to their mailing address on file.
  

  We appreciate *************************** as a valued member of LendingClub and thank you for the chance to respond to their complaint. If *************************** has further questions about this complaint, please contact us by email at ******************************************* or leave a message at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.

  Customer Answer

  Date: 05/23/2024

   
  Complaint: 21728589
  
  I am rejecting this response because:
  
  Sincerely,
  
  *****************************

  Customer Answer

  Date: 05/23/2024

  From: *************************** <************************>
  Sent: Thursday, May 23, 2024 2:17 PM
  To: info <************************************>
  Subject: Complaint ID: ********

   

  Hello,

   

  Where do I provide more information, please?  It says Click here but no window opens for me to write.

   

  Lending Club stated they tried to send the overpaid amount to my **** of America account. I closed that account and provided a new account with *** **** a while ago and Lending Club were withdrawing monthly payments from the *** account. Please verify what account they use to withdraw my monthly payments.

  They made a mistake and used the wrong (closed) account to send my overpaid amount. Never apologized, never admitted their mistake; instead, kept on saying I had another account (in the past!), thats why I provided a new account so they can take monthly payments from a NEW account.

   

  Again, please verify what account they were taking payments from since June of 2023!

   

  ***************************

  ************

  
  

  

  Business Response

  Date: 05/24/2024

  Thank you for giving LendingClub Bank, N.A.("LendingClub") the opportunity to respond to ******************* Better Business Bureau (BBB) complaint. LendingClub strives to provide the very best service to our customers and appreciates their feedback.
  

  LendingClub previously addressed this complaint on May 23,2024, and has nothing further to provide at this time.  
  

  If *************************** has further questions about this complaint,please have them contact LendingClub directly by email at ******************************************* or leave a message at ************, Monday -Friday 7am - 4pm Pacific Time.

  Customer Answer

  Date: 05/24/2024

   
  Complaint: 21728589
  
  I am rejecting this response because:
  
  Sincerely,
  
  *****************************

• Initial Complaint

  Date:05/17/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I made an inquiry through Credit Karma with LendingClub to see if I qualify for a personal loan and if so how much. They asked questions I felt were normal for an inquiry: my desired amount, my salary, plans for the loan, other debts I had, etc and received an email stating they received my information and would review it. A week later on 04/15 I got an email that funds were distributed, and by funds, they distributed money to my creditors and my checking account. On 04/16 I spoke with a representative at LendingClub to cancel the loan *********, they said they would start the process, but that I would have to call my creditors to ensure they did not receive the funds as LendingClub said they could not stop the electronic payments on their end. So I got stuck with doing the leg work of calling multiple agencies. Six of the seven creditors confirmed they received nothing, the 7th immediately reversed the funds on 04/23 after it cleared my account. The money ********************** sent directly to my checking account was pulled by them on 04/30. I verified with LendingClub on 05/13 that they have all funds returned to them and that they assured me the loan would be closed on 05/17, to call back and that I would receive an email confirming this. I called 05/15 for reassurance because that was the original 30 day time period, they again assured me that everything was on track in the back office and to call on 05/17/24. Here it is 05/17, no email. *** called twice this morning and both times I have to explain the entire situation to the representatives despite the case notes they say they make on the account. One representative tried to tell me they are waiting for the money they sent to my checking account to which I had to correct him and tell him LendingClub took that money back weeks ago on 04/30. This whole ordeal has been beyond frustrating! I'm still waiting on resolution to cancelling this loan and getting this hassle over with. This company is a scam, stay clear of it!

  

  Business Response

  Date: 05/23/2024

  Thank you for giving LendingClub Bank, N.A. (LendingClub) the opportunity to respond to Charnice Dagleys Better Business Bureau (BBB) complaint. LendingClub strives to provide the very best service to our customers and appreciates their feedback.
  
  Once an application is received by LendingClub, we may perform income, employment or other verification to validate information provided on the application. Absent of applicants request to cancel a pending loan request, ************ is required to provide a final decision for each application in a timely manner.Our records indicate ***************************** submitted a loan application on April 10, 2024, and their loan was approved that same day.
  
  An applicant may cancel their request for a personal loan through LendingClub without any fee or penalty, as long as they contact LendingClub within five (5) calendar days from the date of issuance. ***************************** loan originated on April 15, 2024, and we received their request to cancel their loan on that same date.
  
  As part of the application process for a balance transfer loan, LendingClub requests applicants to complete an email verification, fill out a balance transfer worksheet, and link a valid bank account for deposit of the remaining funds. The worksheet allows LendingClub to facilitate payments to the creditors of their choice. Once funds are issued by LendingClub to the creditor, it is the responsibility of the creditor to either apply or return the funds.LendingClub has no control over when the creditor will return the funds to us or apply them to the account. The member may facilitate the return of the funds with their creditor directly, or they can provide the email and fax number for their creditor so we can attempt to contact them, as this may expedite the process of the funds being returned to LendingClub.
  
  LendingClub received the issued funds from the creditors directly on April 15,2024. On May 1, 2024, LendingClub was able to successfully withdraw the remaining funds required for cancellation via ACH, as authorized and scheduled by *****************************.LendingClub was required to allow the transaction to process in entirety, which can take up to ten (10) business days. On May 9, 2024, LendingClub processed the funds received from the creditors to be applied to the account balance,which also required the transaction processing time of up to ten (10) business days. On May 17, 2024, the funds were successfully processed to the account and the loan was successfully canceled. ***************************** does not have a balance owed to LendingClub.
  
  We apologize for their experience, and we hope that we can regain their confidence in the future.
  
  When a loan cancellation has been finalized within policy,the account will not report to the credit bureaus for credit reporting. If ***************************** notices a discrepancy in their credit reporting, please have them contact us directly and we will be happy to assist.
  
  We appreciate ***************************** as a valued member of LendingClub and thank you for the chance to respond to their complaint. If ***************************** has further questions about this complaint, please have them contact LendingClub directly by email at ******************************************* or leave a message at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.
  
  

• Initial Complaint

  Date:05/15/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I currently have a loan and had dealings with lending club. ****** paided off early, never late. I was on lending clubs app reviewing all my the documents pertained to my loans. I noticed a loan application on 04/2024, which I never applied for. I requested they provide me information on who applied for the loan, I requested they remove my banking info, and questioned the hidden costs, since there was a huge lawsuit against lending club. I do not want to be a victim of scam The rep and supervisor **** illegally removed all my loan documentation, stating it was an error with their system, yet I was able to make payments or pay the loan in full. **** locked me out of my account, once I informed her that I will contact a lawyer and the **** I have NO access. She could not email any documents, for security reasons but they have my banking information on the app????The fact that they have no transparency , locked me out of my account, and I cannot view any documentation or delete my bank information and security credentials, indicates they are scammers. I reported them to the **** They are hiding the documents from me because they dont want my lawyer, law enforcement, or District attorney to review. What is alarming is, I have become a victim of identity theft, since someone applied for a loan with my credentials. She refused to report it to the credit agencies and I am unable to access the report since I am locked out of my account.

  

  Business Response

  Date: 05/23/2024

  Thank you for giving LendingClub Bank, N.A. (LendingClub) the opportunity to respond to *********************** Better Business Bureau (BBB) complaint. LendingClub strives to provide the very best service to our customers and appreciates their feedback.

  LendingClub has conducted an investigation and can confirm the following: On April 28, 2024 an application for credit was opened by *****************************. It looks like they recently checked their rate either at LendingClub or one of our partner websites like Credit Karma, Mint, or LendingTree. When members check their rate on those sites, it starts an application that lets them see if any offers match their credit profile. Our records indicate an Adverse Action letter was sent on April 28, 2024. ***************************** can review the adverse action notice by signing into their LendingClub online account.
  

  Checking your rate and applying for a loan through LendingClub wont affect a members credit score. It generates a soft credit inquiry that we use to understand their creditworthiness. Soft inquiries are visible only to members, not to creditors or other users of their credit report.
  

  If ***************************** believes they are a victim of identity theft, and someone falsely applied for a loan through LendingClub in their name, we recommend ***************************** adds a fraud alert to their credit bureau report and file a report with the Internet ********************** at www.ic3.com. 

  LendingClub will work with ***************************** and any law enforcement agency if ***************************** wishes to pursue an identity theft claim.

   Federal and state laws require us to retain account information for a period of time.Retaining this information is required of all financial services companies.Please be assured that we take privacy and security seriously. ***************************** can view LendingClubs private policy by checking our website.

  LendingClub maintains a security program that draws on industry standards and best practices to keep information safe. Our security measures comply with federal law and are designed to meet or exceed rigorous industry standards for financial institutions.
  

  All loan applications include a members Truth in Lending (TIL) Disclosure which details the terms of the members loan. It lists their annual percentage rate (APR), which is the total yearly cost of their loan, including both the interest rate and the origination fee. The TIL and Borrower Agreement are acknowledged by the borrower during the application process.  Borrowers may review their documents, payment history and account information at any time by signing into their online account at lendingclub.com.
  
  If ***************************** is still having issues logging into their account to view their documentation, we recommend they contact us directly and one of our phone agents will be ready to assist in logging back into the account.
  
  We appreciate ***************************** as a valued member of LendingClub and thank you for the chance to respond to their complaint. If ***************************** has further questions about this complaint, please have them contact LendingClub directly by email at ******************************************* or phone at ************, Monday - Friday 7a.m. - 4p.m. Pacific Time.

• Initial Complaint

  Date:05/14/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  LENDING CLUB BANK HAS VIOLATED MY RIGHTS AND I'M SEEKING $1000 PER VIOLATION OF THE **** FOR THESE ACCOUNTS THAT ARE REPORTING WITHOUT MY CONSENT. LENDCLUB BNK ACCOUNT 182177032.LENDING CLUB BANK NEVER INFORMED ME OF MY RIGHTS TO EXERCISE MY NON DISCLOSURE OPTION UNDER 15 USC 6802.According to the Fair Credit Reporting Act 15 USC 1681 section 602 a states "There is a need to insure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality, and a respect for the consumers right to privacy." Equifax Transunion and Experian are consumer reporting agencies and I am the Consumer. I have the right to make sure my private information isn't shared which is backed by 15 USC 6801 which states"It is the policy of the Congress that each financial institution has an affirmative and continuing obligation to respect the privacy of its customers and to protect the security and confidentiality of those customers nonpublic personal information. LENDING CLUB BANK is a financial institution by definition under that title. 15 USC 1681 section 604 a section 2 states that "In general Subject to subsection (c) , any consumer reporting agency may furnish a consumer report under the following circumstances and no other: in accordance with the written instructions of the consumer to whom it relates. LENDING CLUB BANK the financial institutions and the Consumer reporting agencies Transunion, Equifax and Experian , and all Data Furnishers and 3rd party companies do not have my consent to furnish this information and they surely do not have my written consent. Any and all consent to LENDINGCLUB BANK whether it be verbal, non-verbal, written, implied or otherwise is revoked. 15 USC 6802 (b)(c) states that "A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless the consumer is given an explanation of how the consumer can exercise that nondisclosure option. LENDINGCLUB BANK Never informed me of my right to exercise my nondisclosure option.

  

  Business Response

  Date: 05/23/2024

  Thank you for giving LendingClub Bank, N.A. (LendingClub) the opportunity to respond to *********************** Better Business Bureau (BBB) complaint. LendingClub strives to provide the very best service to our customers and appreciates their feedback.
  
  LendingClub provides applicants with important documents prior to loan consummation.  These documents include the Borrower Agreement and Truth-In Lending (TIL) disclosure.  The TIL disclosure includes important information about the loan, including the Annual Percentage Rate (APR) and origination fee. LendingClub requires that applicants review the TIL and accept the Borrower Agreement before submitting an application. Our records indicate *********************** reviewed the TIL and accepted the Borrower Agreement on October 7,2021. To view the TIL disclosure and other important documentation, please have them sign into their LendingClub account online at lendingclub.com.
  
  LendingClub records indicate that *********************** received a personal loan on October 8,2021. Contractual monthly payments were received on the loan from November 2021 to December 2021. Thereafter,the loan became delinquent.
  
  It is the responsibility of the member to monitor their account, payments, and information. If a contractual monthly payment is not received by the contractual due date and becomes past due, LendingClub will attempt to reach the member whose account might be at risk of being negatively impacted or reported.  We give all borrowers a 15-day grace ****** to make payments with no penalty. Interest will continue to accrue on the loan daily and if a payment is delayed, there may be additional interest accrued on the loan. If a payment is not received within 15 days of the contractual due date, a late fee may be applied. If a payment is not received within 30 days of the contractual due date, the account may be turned over to a professional collection agency and negative information may be furnished on their credit report. LendingClub must follow our charge off policy if the loan becomes more than 120 days past due. *********************** last payment was received on December 8, 2021. Due to non-payment, the loan was charged off on May 16, 2022. In accordance with our policy, the loan was sold to ******************** Purchasing, LLC on June 29,2022. Please note as the loan has been sold, any request received for validation will be sent to the debt buyer. If *********************** would like to discuss their account, please have them contact ******************** Purchasing, LLC at ************.
  
  Upon acknowledgment and acceptance of the loan terms, a borrower consents and agrees to LendingClubs credit reporting policy. LendingClub complies with all applicable federal and state privacy and data protection laws and regulations. In the laws and regulations, there are a number of exceptions where consumers have no right to opt out of non-personal information disclosures. Examples of appropriate information disclosures under this exception include those made to a purchaser of a portfolio of consumer loans,and a consumer reporting agency, consistent with the Fair Credit Reporting Act (FCRA). In accordance with the ***** LendingClub provided a thorough investigation of *********************** account, and it was confirmed that all account information has been accurately reported.
  
  LendingClub is required to report all account experiencespositive and negativeto one or more of the credit bureaus. Late payments, missed payments, or other defaults on their account may be reflected in their credit report, as well as a record of on-time payments. Charge-offs result in a negative **** on their credit report. Whether they've paid off the balance, settled it, or the loan is sold, the charge-off status will stay on their credit report up to seven years.  To remain fair and impartial to all borrowers, we are unable to make modifications or exceptions to our credit bureau reporting policy.  
  
  We appreciate *********************** as a valued member of LendingClub and thank you for the chance to respond to their complaint. If *********************** has further questions about this complaint, please have them contact LendingClub directly by email at ******************************************* or leave a message at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.

  Customer Answer

  Date: 05/23/2024

   
  Complaint: 21713425
  
  I am rejecting this response because:

  Lending continues to Violate My Rights by Reporting this account to 3rd party companies such as Equifax Transunion experian, data Furnishers. 

  THE law is the Law.

  Congress states in 15 usc 6802.  How could they report information on me when the law says they have to get my permission.The law is the law.

  15 usc 6802
  The law says they have to respect my rights by giving me a chance to say I dont want my information reported to a Third party company.  The law talks about 3 forms (A) (B) (c) 15 U.S. Code 6802 - Obligations with respect to disclosures of personal information Opt out (1) In general A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless (A) such financial institution clearly and conspicuously discloses to the consumer, in writing or in electronic form or other form permitted by the regulations prescribed under section 6804 of this title, that such information may be disclosed to such third party; (B) the consumer is given the opportunity, before the time that such information is initially disclosed, to direct that such information not be disclosed to such third party; and (C) the consumer is given an explanation of how the consumer can exercise that nondisclosure option.

  "OPT OUT"
  
  Sincerely,
  
  ***********************

  

  Business Response

  Date: 05/29/2024

  Thank you for giving LendingClub Bank, N.A. (LendingClub) the opportunity to respond to *********************** Better Business Bureau (BBB) complaint. LendingClub strives to provide the very best service to our customers and appreciates their feedback.
  
  Upon acknowledgment and acceptance of the loan terms, a borrower consents and agrees to LendingClubs credit reporting policy. LendingClub complies with all applicable federal and state privacy and data protection laws and regulations. In the laws and regulations, there are a number of exceptions where consumers have no right to opt out of non-personal information disclosures. Examples of appropriate information disclosures under this exception include those made to a purchaser of a portfolio of consumer loans,and a consumer reporting agency, consistent with the Fair Credit Reporting Act (FCRA). In accordance with the ***** LendingClub provided a thorough investigation of *********************** account and it was confirmed that all account information has been accurately reported.
  
  In response to *********************** request, we have completed the following actions:
  
  *Opted them out of sharing
  *Opted them out of non-affiliate sharing
  *Opted them out of affiliate sharing
  *Opted them out of marketing communications
  *Opted them out of email marketing
  
  Please note that applying for future loans will reactivate email and direct mail requests. If *********************** would like to opt out of any future marketing or promotional emails, they will need to click the unsubscribe link at the bottom of any email they receive from us.

  We appreciate *********************** as a valued member of LendingClub and thank you for the chance to respond to their complaint. If *********************** has further questions about this complaint, please have them contact LendingClub directly by email at ******************************************* or leave a message at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.

• Initial Complaint

  Date:05/14/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  This company is not reporting maximum accuracy on my credit report. Their practice is in violation of my rights under the **** which is designed to protect consumers. They are furnishing an account in which the debt was cancelled, they did not send me a 1099c form. According to 15USC codes 1681eb and 1681 a company cannot furnish and account without a consumer's written consent and they are not allowed to report transactions. A fair practice would be to have this account completely removed from all 3 major credit bureaus.

  

  Business Response

  Date: 05/22/2024

  Thank you for giving LendingClub Bank, N.A. (LendingClub) the opportunity to respond to *************** Better Business Bureau (BBB) complaint. LendingClub strives to provide the very best service to our customers and appreciates their feedback.
  
  LendingClub provides applicants with important documents prior to loan consummation.  These documents include the Borrower Agreement and Truth-In Lending (TIL) disclosure.  The TIL disclosure includes important information about the loan, including the Annual Percentage Rate (APR) and origination fee. LendingClub requires that applicants review the TIL and accept the Borrower Agreement before submitting an application. Our records indicate *************************** reviewed the TIL and accepted the Borrower Agreement on May 14, 2018. To view the TIL disclosure and other important documentation, please have them sign into their LendingClub account online at lendingclub.com.
  
  LendingClub records indicate that *************************** received a personal loan on May 16, 2018.Contractual monthly payments were received on the loan from June 2018 to November 2019.Thereafter, the loan became delinquent.
  
  It is the responsibility of the member to monitor their account, payments, and information. If a contractual monthly payment is not received by the contractual due date and becomes past due, LendingClub will attempt to reach the member whose account might be at risk of being negatively impacted or reported.  We give all borrowers a 15-day grace ****** to make payments with no penalty. Interest will continue to accrue on the loan daily and if a payment is delayed, there may be additional interest accrued on the loan. If a payment is not received within 15 days of the contractual due date, a late fee may be applied. If a payment is not received within 30 days of the contractual due date, the account may be turned over to a professional collection agency and negative information may be furnished on their credit report. LendingClub must follow our charge off policy if the loan becomes more than 120 days past due. *************** last contractual monthly payment was received on November 18, 2019. Due to account delinquency, the loan was charged off on April 30,2020.
  
  On March 10, 2020,LendingClub negotiated a settlement payment agreement with ***************************, and the payments were received as agreed from March 2020 to August 2021. The last payment was received on August 26, 2021, and the loan was considered settled in full, for less than the full balance. Once this was completed, *************************** no longer owed a balance to LendingClub.
  
  Upon acknowledgment and acceptance of the loan terms, a borrower consents and agrees to LendingClubs credit reporting policy. LendingClub complies with all applicable federal and state privacy and data protection laws and regulations. In the laws and regulations, there are a number of exceptions where consumers have no right to opt out of non-personal information disclosures. Examples of appropriate information disclosures under this exception include those made to a purchaser of a portfolio of consumer loans,and a consumer reporting agency, consistent with the Fair Credit Reporting Act (FCRA). In accordance with the ***** LendingClub provided a thorough investigation of NAMEs account and it was determined that Equifax was not accurately reported the account as settled in full. An update was sent on May 20, 2024, to correct the error. Depending on credit bureau processing times, it can take up to sixty (60) days for the new information to be displayed. It was confirmed that all other account information has been accurately reported.
  
  LendingClub is required to report all account experiencespositive and negativeto one or more of the credit bureaus. Late payments, missed payments, or other defaults on their account may be reflected in their credit report, as well as a record of on-time payments. Charge-offs result in a negative **** on their credit report. Whether they've paid off the balance, settled it, or the loan is sold, the charge-off status will stay on their credit report up to seven years.  To remain fair and impartial to all borrowers, we are unable to make modifications or exceptions to our credit bureau reporting policy.  

  For settled accounts that were previously charged off, a member may record the forgiven balance of a debt as income and contact LendingClub to request a Form 1099-C (Cancellation of Debt). Upon receipt of this complaint, a copy of the Cancellation of Debt (1099-C) tax form was requested on *************** behalf. They will be receiving that information shortly.
  
  We appreciate *************************** as a valued member of LendingClub and thank you for the chance to respond to their complaint. If *************************** has further questions about this complaint, please have them contact LendingClub directly by email at ******************************************* or leave a message at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.
  

  
  

• Initial Complaint

  Date:05/13/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I requested a payoff quote for my personal loan on 4/1/24 (attatched to complaint). Dealership I bought a new vehicle at, *** overnighted a check on 4/9, received by LCC on 4/10. I made multiple phone calls to LC asking why payment wasn't made, no one could answer the question, or find out why payoff was taking so long to process. I was advised on my first call in that interest will not be charged beyond the check date. They record their calls, and this can be validated.Either way, based on the payoff quote, the letter said check by 4/15, balance will be $10,392, check of $10,500 was delivered on 4/10. I should have technically received a refund for overpayment. The payment wasn't processed until 5/7. Almost a full month in which I am being charged interest on a payment they had in house the whole time. At this point, I don't want a refund of the whole interest, I just refuse to pay the $49 and request for that to be waived off.

  

  Business Response

  Date: 05/21/2024

  Thank you for giving LendingClub Bank, N.A. (LendingClub) the opportunity to respond to *********************** Better Business Bureau (BBB) complaint. LendingClub strives to provide the very best service to our customers and appreciates their feedback.
  
  When check payments are received by our lockbox services, the payment is cashed and then distributed to the correct account receivables, depending on the type of LendingClub account that the check will be applied to. LendingClub requires that all check payments have at least two identifiers such as members name,loan ID or address - listed on the check to be accepted and applied to a loan account. If a check payment does not have the required identifiers, LendingClub will be unable to apply the check payment after the allotted time outlined in our internal processing policies, the check will be rejected. If the payment is unable to be applied to the account, the received funds will be processed for return via method received. Interest will continue to accrue daily on the member's loan account, which may increase the total amount necessary for loan payoff.
  
  On April 10, 2024, LendingClub received a check via mail in the amount of $10,500.00 from a third party, with no identifying information to indicate which account the check should belong to. On April 22, 2024, *********************** contacted us to inquire why their payment hadnt been applied to their account and provided ********************** with the check payment information. Upon investigation for the payment, LendingClub confirmed that the check payment received on April 10, 2024, could be correctly identified and on May 1, 2024, the funds were released for distribution to the account. Due to processing times, the funds were successfully applied to the account on May 9, 2024.
  
  In an effort in doing what is right, LendingClub has applied the payment with an effective date of May 1, 2024, when the funds were identified. Once this was completed on May 21, 2024, the loan was paid in full and *********************** no longer has a balance owed to LendingClub. Please allow up to ten (10) calendar days after the closed date for the account to be considered fully paid. Afterwards, any overpayment refund, if necessary,will process and be disbursed to their bank account on file.
  
  We appreciate *********************** as a valued member of LendingClub and thank you for the chance to respond to their complaint. If *********************** has further questions about this complaint, please have them contact LendingClub directly by email at ******************************************* or leave a message at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.
  
  

• Initial Complaint

  Date:05/13/2024

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Stop sending unsolicited mail and remove my name and address from whatever lists are used.

  

  Business Response

  Date: 05/20/2024

  Thank you for giving LendingClub Bank, N.A. (LendingClub) the opportunity to respond to ********************* Better Business Bureau (BBB) complaint. LendingClub strives to provide the very best service to our customers and appreciates their feedback.
  
  LendingClub maintains a security program that draws on industry standards and best practices to keep your information safe. Our security measures comply with federal law and are designed to meet or exceed rigorous industry standards for financial institutions. Please be assured that we take privacy and security seriously. For more information about our privacy and security practices,please refer to LendingClub's Privacy Policy at lendingclub.com.
  
  In response to ********************* request, we have completed the following actions:
  
  *Opted them out of sharing
  *Opted them out of non-affiliate sharing
  *Opted them out of affiliate sharing
  *Opted them out of marketing communications
  *Opted them out of email marketing
  *Opted them out of direct mail marketing
  
  Please note that applying for future loans will reactivate email and direct mail requests. If ******************* would like to opt out of any future marketing or promotional emails, they will need to click the unsubscribe link at the bottom of any email they receive from us.

  We appreciate ******************* as a valued member of LendingClub and thank you for the chance to respond to their complaint. If ******************* has further questions about this complaint, please have them contact LendingClub directly by email at ******************************************* or leave a message at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.
  

  
  

• Initial Complaint

  Date:05/12/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  For some reason, internal to ************* my payment continued to bounce for several months. During this time I continued to receive text messages confirming my payment was scheduled. I called to confirm that the company had my card details, they did. For some reason their system wasnt allowing the payment to process. My bank confirmed that the card was functioning correctly and there was no known reason for it not to work. Lending club confirmed they have the correct bank/card information and an auto payment authorization. Eventually, after many phone calls, the problem was resolved by Lending internally. The payments continued as authorized from then on. We made a bulk payment to catch up on the payments that were missed as a result of this issue. Shortly after the resolution, ************ hit my credit with 4 months of missed payments and refused to remove them. These is my only negative comments in my credit. As such they have been very detrimental to my credit score. Lending club refuses to remove the negative remarks despite their fault in the issue.

  

  Business Response

  Date: 05/21/2024

  Thank you for giving LendingClub Bank, N.A. (LendingClub) the opportunity to respond to ********************* Better Business Bureau (BBB) complaint dated May 12, 2024. LendingClub strives to provide the very best service to our customers and appreciates their feedback.
  

  LendingClub records indicate that *************************** reviewed, acknowledged, and electronically signed their loan documents on January 26, 2023.
  

  LendingClub records report that ********************* balance transfer loan originated on January 27, 2023. Contractual monthly payments were received on the loan for March 2023, from June 2023 to November 2023, and from January 2024 to April 2024. Their next payment is due May 27,2024.
  

  LendingClub offers borrowers several options for making their monthly payments. Payments can be automatically deducted from a verified bank account (autopay ACH), checks can be sent, borrowers can authorize one-time ACH payments by phone or online, or a payment can be authorized using PayNearMe.
  

  Any payments made within 30 days of a borrowers next due date will be applied toward their monthly contractual payment. If a payment is made more than 30 days before the next payment due date, the payment will be applied toward their principal balance.
  

  It is the responsibility of the member to monitor their account, payments, and information. If a contractual monthly payment is not received by the contractual due date and becomes past due, LendingClub will attempt to reach the member whose account might be at risk of being negatively impacted or reported. LendingClub made multiple attempts to contact *************************** regarding their past due payments.
  

  On April 6, 2023, a payment was received which fulfilled their February 27, 2023 monthly obligation.
  

  On July 14, 2023, a payment was received which fulfilled their April 27, 2023 and May 27, 2023 monthly obligations.
  

  On February 7, 2024, a payment was received which fulfilled their December 27, 2023 monthly obligation.
  

  We give all borrowers a 15-day grace ****** to make payments with no penalty. Interest will continue to accrue on the loan daily and if a payment is delayed, there may be additional interest accrued on the loan. If a payment is not received within 30 days of the contractual due date, the account may be turned over to a professional collection agency and negative information may be furnished on their credit report.
  

  LendingClub reports all account experiencespositive and negativeto one or more of the credit bureaus. Late payments, missed payments,or other defaults on their account may be reflected in their credit report, as well as a record of on-time payments. We're required to report complete and accurate information; therefore, we are unable to make good faith updates. LendingClub is accurately reporting their account information.
  

  We appreciate *************************** as a valued member of LendingClub and thank you for the chance to respond to their complaint. If *************************** has further questions about this complaint, please contact us by email at ******************************************* or leave a message at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.

  Customer Answer

  Date: 05/21/2024

   
  Complaint: 21701004
  
  I am rejecting this response because:

  the Company had my payment information on file at the time of the missed payments.

  I confirmed this with your office.
  

  The payments were not taken due to some issue that was internal to yourselves.

  There was sufficient money in my accounts and the payment information was valid.
  

  When I contacted your office I was offered little to no help.

  Simply stating the terms of the contract and showing the dates of the payments does nothing to address the cause of the late/missed payments. Namely, the failure of your billing system.

  Sincerely,
  
  ***************************

  

  Business Response

  Date: 05/24/2024

  Thank you for giving LendingClub Bank, N.A.("LendingClub") the opportunity to respond to ********************* Better Business Bureau (BBB) complaint. LendingClub strives to provide the very best service to our customers and appreciates their feedback.
  

  LendingClub records report that *************************** initialized autopay payments on their loan account on July 14, 2023.
  

  LendingClub previously addressed this complaint on May 21,2024, and has nothing further to provide at this time.  
  

  If *************************** has further questions about this complaint,please have them contact LendingClub directly by email at ******************************************* or leave a message at ************, Monday -Friday 7am - 4pm Pacific Time.

• Initial Complaint

  Date:05/10/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Received call Monday, May 6,2024,advising online loan application was approved for requested amount of $3,500.00, I proceeded to provide routing & account# along with mobile app sign on info, for verification purposes & advised funds will be transferred by end of day. They then called back for paypal acct info in order for them send $680.00 but needed to be sent right back, just needed to confirm my account, to which advised funds would be available in about an hour to hour and a half. That was Monday and no funds in my account, to which I discovered, has been frozen & blocked. I have continuously called and still same story, acct'ng ***** needed send one more payment to my paypal to send back again to which I refused to do until my funds were transferred. I have now been a calling and they either dont answer or force call to busy signal. They have no vm in order to leave a message either. They also have a copy of my ID.

  

  Business Response

  Date: 05/13/2024

  Thank you for giving LendingClub the opportunity to respond to ****************** Better Business Bureau (BBB) complaint. Were sorry to hear that *********************** could have experienced a type of fraud or scam. At LendingClub, we take pride in providing a safe and transparent online lending experience. We never ask consumers to pay fees in advance or insurance to get a loan.
  
  To protect themselves, *********************** should take these steps immediately:
  
  1. Do Not give their personal information or bank account information to an unknown caller.
  2. Do Not provide the account information for a prepaid debit card or gift card to an unknown caller.
  3. Call us immediately at ************. We can confirm the identity of LendingClub employees.
  4. File a complaint about internet-related fraud with the Internet ********************** at *******************************
  5. Report the scam to their state's attorney general. They can find their state's contact information at www.consumerfraudreporting.org.
  6. If the scammer emailed them, they may forward the email with the original subject line to ************************************** and reference ticket #********.
  7. Let us know if they shared gift card information, such as an iTunes or ****** Play card. We may ask them to provide us with the gift card numbers to help us report the scammers.

  Unfortunately,scammers may contact people saying they represent a major financial services company. Sometimes they pretend to be LendingClub and offer personal loans with attractive terms. These fraudsters may tell victims to buy a prepaid debit card or gift card to pay a loan application fee. Then, they ask for the card number,supposedly to verify the account and send the victim the money. Instead, they take the money for themselves. The scammers may ask victims to pay extra fees,allegedly to fix problems with their Social Security number, credit report, or issues with the ****
  
  Although the scenario above is a typical advanced fee scam, fraudsters frequently change their methods. They may also ask for a victims bank account number, username,or password. They may even request their birthdate or Social Security number,leaving victims vulnerable to ID theft and other scams.
  
  If *********************** has further questions about protecting themselves from scams, they may visit ******************************************************************************* or contact ************************************** to forward the details listed above. 

• Initial Complaint

  Date:05/09/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I took out a consolidation loan and the bank sent a check to pay off the loan. The check was cashed but they did not apply it to my loan. They are claiming they did not receive it. I sent them the cancelled check the bank sent to me. They are still charging interest every day and continue to take out payments. Please help.

  

  Business Response

  Date: 05/13/2024

  Thank you for giving LendingClub Bank, N.A. (LendingClub) the opportunity to respond to ***************** (******)Better Business Bureau (BBB) complaint dated May 9, 2024. LendingClub strives to provide the very best service to our customers and appreciates their feedback.
  

  LendingClub records report that ***************** personal loan originated on November 28, 2022. Contractual monthly payments were received on the loan from December 2022 to April 2024.
  

  A check payment was received on May 3, 2024 to pay off their loan. Check payments can take up to ten (10) business days to be processed to an account. When the payment is applied to the account, it is backdated to the date that the payment was originally received; therefore, *********************** (******) will not be charged any extra accrued interest or fees. Their check payment was applied to their loan account on May 10, 2024 with an effective date of May 3, 2024. As per our payoff process, please allow up to ten (10) calendar days after the closed date for the account to be considered fully paid. Afterwards, any overpayment refund will process and be disbursed to their bank account on file.
  

  We appreciate *********************** (******) as a valued member of LendingClub and thank you for the chance to respond to their complaint. If *********************** (******) has further questions about this complaint, please contact us by email at ******************************************* or leave a message at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.