Complaints

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

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  LendingClub Corporation

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

  
• 

  Lending Club

  P.O. Box 1309 Coppell, TX 75019

• 

  LendingClub Corporation

  1 Harbor St Boston, MA 02210-2359

• 

  LendingClub

  3113 Clearview Dr Indianapolis, IN 46228-1067

• 

  Lending Club Patient Solutions

  1700 West Park Dr, Suite 310 Westborough, MA 01581-3939

  

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:10/09/2023

  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.

  To Whom it may concern,This letter is to inform you that I recently received a copy of my credit report that your company publishes and after reviewing it I found a number of items on the report that are inaccurate. The accounts in question are listed below. Please send me copies of the documents that you have in your files as of this date that you used to verify the accuracy of the accounts listed below. LENDING CLUB CORP ACCT #: *********BAL. $ 0 Under the Fair Credit Reporting Act, 15 U.S.C. ****g I have the right to demand that you disclose to me all of the documents that you have recorded and retained in your file at the time of this request concerning the accounts that you are reporting in my credit report. Please dont respond to my request by saying that these accounts have been verified. Send me copies of the documents that you have in your files that were used to verify them. If you do not have any documentation in your files to verify the accuracy of these disputed accounts then please delete them immediately as required under Section 611(a)(5)(A)(i). By publishing these inaccurate and unverified items on my credit report and distributing them to 3rd parties you are damaging my reputation and credit worthiness.

  

  Business Response

  Date: 10/12/2023

  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 indicate that ********************************************** received a personal loan on September 19, 2018. The contractual monthly payment was received on the loan for October 2018. Thereafter, the loan was 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. 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 October 18, 2018. Due to non-payment, their loan was charged off on March 29, 2019. In accordance with our policy, the loan was sold to ******************************* on April 17, 2019.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 ************************** at ************.
  
  When borrowers notify us that they may be a victim of identity theft, LendingClub conducts a thorough investigation to determine if a loan has been fraudulently obtained. A fraud investigation was opened on April 26, 2023, when LendingClub received a fraud claim through the credit bureaus. The investigation was closed on April 28, 2023, and the fraud claim was declined due to them having received benefit of funds. ********************************************** was notified of this determination by mail.
  
  It has been confirmed that all account information has been accurately reported as required. 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. Charge-offs result in a negative **** on their credit report. Whether they have 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 phone at ************, Monday - Friday 7a.m.- 4p.m. Pacific Time.
  
  

• Initial Complaint

  Date:10/09/2023

  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.

  To Whom it may concern,This letter is to inform you that I recently received a copy of my credit report that your company publishes and after reviewing it I found a number of items on the report that are inaccurate. The accounts in question are listed below. Please send me copies of the documents that you have in your files as of this date that you used to verify the accuracy of the accounts listed below. LENDCLUB BNK ******** BAL. $21455 Under the Fair Credit Reporting Act, 15 U.S.C. ****g I have the right to demand that you disclose to me all of the documents that you have recorded and retained in your file at the time of this request concerning the accounts that you are reporting in my credit report. Please dont respond to my request by saying that these accounts have been verified. Send me copies of the documents that you have in your files that were used to verify them. If you do not have any documentation in your files to verify the accuracy of these disputed accounts then please delete them immediately as required under Section 611(a)(5)(A)(i). By publishing these inaccurate and unverified items on my credit report and distributing them to 3rd parties you are damaging my reputation and credit worthiness.

  

  Business Response

  Date: 10/12/2023

  Thank you for giving LendingClub Bank, N.A. (LendingClub) the opportunity to respond to ********************* Better Business Bureau (BBB) complaint dated October 9, 2023. LendingClub strives to provide the very best service to our customers and appreciates their feedback.

  LendingClub records report that ********************* personal loan originated on May 24, 2021.Contractual monthly payments were received on the loan from June 2021 to January 2021. *************************** completed a short-term 50% payment 3-month hardship plan from February 2022 to April 2022. Thereafter, the loan became delinquent.

  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. Due to non-payment, their loan was charged off on September 30, 2022. LendingClub is accurately reporting their account information.

  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.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.

  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 by phone at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.

• Initial Complaint

  Date:10/08/2023

  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.

  Account reported delinquent, when all my my payments are completed with Autopay, never been late , have one time deferred payment during Covid 19, after that had no problem, money have been available for them to draw out until completed. I have been harassed on a daily basis calling me even thou I told them, my payments are set for Autopay, never been late. Is been a horrible experience with this company, all I want is to correct the delinquency of my account with the credit bureau.Loan #********* Personal $20,000 LOAN #********* On track Remaining principal balance $0.00 0 payments to go Autopay is on Next monthly payment due -$0.00 Make a payment Manage Autopay SCHEDULED PAYMENTS PAYMENT DUE DATE 30 Youre paying on the 30th of each month LOAN DOCUMENTS View loan documents and agreements from your application on 07/29/2018 See loan documents PAYMENT HISTORY Sep 30$325.89Completed Aug 31$518.16Completed Jul 31$518.16Completed Jun 30$518.16Completed May 31$518.16Completed See full history LOAN TERMS Original Loan Amount:$20,000 Loan term:62 months Interest rate:18.94%APR:21.90%PAYMENT METHOD There are no bank accounts associated with your membership Manage Payment Method

  

  Business Response

  Date: 10/11/2023

  Thank you for giving LendingClub Bank, N.A. (LendingClub) the opportunity to respond to ********************** Better Business Bureau (BBB) complaint dated October 8, 2023. LendingClub strives to provide the very best service to our customers and appreciates their feedback.

  LendingClub records report that ********************** personal loan originated on July 31, 2018.Contractual monthly payments were received by the due date on the loan from August 2018 to November 2020 and September 2023. Contractual monthly payments were received after the due date on the loan from December 2020 to August 2023.

  If a payment has not been received by the contractual due date, LendingClub makes efforts to contact the borrower and collect outstanding payments to ensure the loan remains in current status. We attempt to contact borrowers using the email address and phone numbers that are provided at the time of application unless instructed otherwise.

  On December 8, 2020, *************************** requested that their December 31, 2020 monthly payment be delayed until January 31, 2021. They scheduled a payment for January 31, 2021. No payment was received in December 2020.
  On January 31, 2021, their scheduled payment was received to fulfill their December 31, 2020 monthly payment obligation.

  On February 28, 2021, an ACH payment was received to fulfill their January 31,2021 monthly payment obligation.

  On March 31, 2021, an ACH payment was received to fulfill their February 28, 2021 monthly payment obligation.

  On April 30, 2021, an ACH payment was received to fulfill their March 31, 2021 monthly payment obligation.

  On May 31, 2021, an ACH payment was received to fulfill their April 30, 2021 monthly payment obligation.

  ***************************** continued this pattern of past due payments until their August 31, 2023 monthly payment.

  On September 30, 2023, an ACH payment was received to fulfill their August 31,2023 and September 30, 2023 monthly payment obligations, and to fully pay the loan.

  LendingClub emailed *************************** on multiple occasions, requesting them to contact us by phone regarding their account. In regard to our requests, we have no record of phone contact from them.

  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 is accurately reporting their account information. Please keep in mind that reporting services, like Credit Karma, are not actual credit reporting agencies and may not reflect the same information found directly through the credit bureaus.

  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 by phone at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.

  Customer Answer

  Date: 10/13/2023

   
  Complaint: 20711218
  
  I am rejecting this response because:

  All my payments were direct withdrawal from my bank account. I had not make any payments personal to this company. They were the one taking money from my account , I had no other control about how they withdrew the payments, money were always there . I don't see how I ever been late , like I said I keep all phone records , mail as well. When I had  1 time deferred my payment during Covid 19 was all recorded and by the end of the conversation it was stated that for that month payment will not go thru and will get the payment with auto-withdrawal the next month. I am waiting for ************ to make thinks right on their part and retract that delinquent account info.  I am waiting for ************ to review their unfair actions against me and don't report a delinquent payment when they are the one in control , when they take the money from my account .I hope this matter will be solved without any further actions from my part. I include the info from my bank account showing this account is paid and was  a ACH Debit.

  ACH debit
  -$325.89
  Transaction date
  Oct 3, 2023
  Posted date
  Oct 3, 2023
  LendingClub ********** PPD ID:
  
  Sincerely,
  
  ***************************

  

  Business Response

  Date: 10/19/2023

  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 October 11, 2023, 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 phone at ************,Monday - Friday 7am - 4pm Pacific Time.

• Initial Complaint

  Date:10/06/2023

  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.

  Took money out of my account that doesn't belong to them, and won't return it. My bank said that they are a scam. My bank account is now locked and now I can't pay any of my bills.

  

  Business Response

  Date: 10/09/2023

  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:
  
  Do Not give their personal information or bank account information to an unknown caller.
  Do Not provide the account information for a prepaid debit card or gift card to an unknown caller.
  Call us immediately at ************. We can confirm the identity of LendingClub employees.
  File a complaint about internet-related fraud with the Internet ********************** at *******************************
  Report the scam to their state's attorney general. They can find their state's contact information at www.consumerfraudreporting.org.
  If the scammer emailed them, they may forward the email with the original subject line to ************************************** and reference ticket #********.
  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:10/06/2023

  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.

  Several years ago, I took out a personal loan from this company. On 5/31/2016, I filed for Chapter 7 bankruptcy protection. It has been 7 years and 4 months since I filed, and my case is being kept open because this creditor is seeking $12,036 from me. I received a letter from the Trustee over the summer notifying me. I believe that this creditor has already written off this debt so I can't understand why my case was reopened and why they are still pursuing this debt. I cannot refinance my home. I cannot get a credit card. I cannot rebuild my credit. I have been stuck in this holding pattern for 7 years and 4 months.

  

  Business Response

  Date: 10/19/2023

  Thank you for giving LendingClub Bank, N.A. (LendingClub) the opportunity to respond to ****** Memehs 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 into the complaint and has determined that our records align with the Ch.7 bankruptcy that was discharged on January 10, 2017. As a result, LendingClub follows all applicable law and has not been attempting any collections on the account.

  Further investigation has also determined that there is no LendingClub tradeline reporting to the Credit Bureaus for this loan.

  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:10/05/2023

  Type:Customer Service 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.

  On 9/11/2023, I unintentionally opened two duplicated CD accounts with ************* each with a $30,000 deposit, due to confusion on their website that required me to input my banking information twice for a single transaction.Realizing the error, I promptly called their customer service 20 minutes later and requested that they refrain from withdrawing funds for the second transaction. The representative assured me they would pass on the information, but unfortunately, both $30,000 transfers were still withdrawn from my Chase account.To avoid overdraft fees, I had to transfer additional funds to my Chase account as there was insufficient balance to cover the $60,000 ************ withdrawal.Despite numerous calls to ************ since 9/11 to close the duplicated accounts, as of today (10/5), the duplicate CD accounts have not been closed.My interactions with ************'s customer service have been inconsistent, with one representative stating that the funds need to remain in the account for 3-5 business days for closure, while another mentioned the requirement of a written notice through their online banking account secure message service or a physical letter.Three days ago, I decided to close both CD accounts, but they remain open with no communication or explanation from ************.I am seeking assistance in promptly closing both accounts and the return of my funds.

  

  Business Response

  Date: 10/16/2023

  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 and appreciates their feedback.? 
  
  On September 14, 2023, LendingClub received the members written notice requesting to close their 1-year Certificate of Deposit account. On October 4, 2023, the member requested to close both of their 1-year Certificate of Deposit accounts.After a careful review, both Certificate of Deposit accounts were closed on October 11, 2023, with account funds remitted to the members address on file by check. We apologize for any inconvenience that resulted from the delay.
  
  If either the BBB or ***************** have any additional questions regarding this complaint, please contact us by email at ******************************************* or by phone at ************ Monday-Saturday 8 a.m. to 8 p.m. Eastern Time.? 

  Customer Answer

  Date: 10/16/2023

   
  Complaint: 20702218
  
  I am rejecting this response because:

  1: Despite LendingClub receiving an immediate notification about the duplication of a CD opened on 09/11/2023, they proceeded to withdraw funds from the external CD account. Even after I discovered the duplicate withdrawal in my banking account and spoke with their associate on 09/14/2023, LendingClub retained my money for nearly a month without returning it.
  2: Due to LendingClub's extended retention of my funds without returning them, I began to doubt their trustworthiness and decided to close the other CD account on 10/4.
  3: Following my complaints to the **** and BBB, LendingClub eventually returned my funds.

  
  HOWEVER:
  1: I initially opened two $30,000 CDs, and they issued two checks for $29,758.08 each. Not only did they retain my first duplicated CD for a month without accruing any interest, but they also failed to fully refund my principal.
  2: When I requested to close my CDs, the associate assured me that I would only forfeit the interest, yet it appears that a portion of my principal was also lost.

  
  I request the following:
  1: LendingClub to promptly return the full principal amount of $30,000 for each of the two CDs.
  2: Compensation for the interest lost during the one-month period when my $30,000 CD was wrongfully retained by LendingClub.

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

  

  Business Response

  Date: 10/25/2023

  Thank you for giving LendingClub Bank, N.A. (LendingClub) the opportunity to respond to **************** Better Business Bureau (BBB) complaint.
  
  If a member wishes to withdraw their funds prior to the maturity date, the member will incur an early withdrawal penalty. For CD terms of one year or less, the penalty is 90 days simple interest. For terms greater than one year, the penalty is 180 days of simple interest. Due to a miscommunication, we will be rebating the early withdrawal penalty by check to the members address on file. We appreciate their patience and will use this information to improve our member experience.
  
  If either the BBB or ***************** have any additional questions regarding this complaint, please contact us by email at ******************************************* or by phone at ************ Monday-Saturday 8 a.m. to 8 p.m. Eastern Time.? 

• Initial Complaint

  Date:10/03/2023

  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.

  They charged me thousands in hidden fees it was not discussed upon approval of loan .They are charging me more than 50% in interest fees that it was not disclosed in contracts . I was approved for a 13 % to 16% apr and for almost 2 years they have been deducting almost 50% of the monthly payments in interest charges I didnt signed up for .I called customer service several times with the intent to resolve this matter with no luck .

  

  Business Response

  Date: 10/06/2023

  Thank you for giving LendingClub Bank, N.A. (LendingClub) the opportunity to respond to ******************************* Better Business Bureau (BBB) complaint dated October 3, 2023. LendingClub strives to provide the very best service to our customers and appreciates their feedback.

  When LendingClub receives an application request, we provide 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 their loan, including the Annual Percentage Rate (APR) and origination fee. LendingClub requires that applicants review the TIL and electronically accept the Borrower Agreement before submitting an application. Our records indicate ***************************************** reviewed the TIL and accepted the Borrower Agreement on July 8, 2022.To view the TIL disclosure and other important documentation, please sign into their LendingClub account online at lendingclub.com.

  LendingClub records report that ******************************* balance transfer loan originated on July 11, 2022.Contractual monthly payments were received on time and after the due date but within the allowed ****** to report as on time on the loan from August 2022 to August 2023. Your September 20, 2023 monthly payment is past due.

  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. Borrowers are also able to make extra principal payments that are applied to the principal balance, which decreases the total cost of the loan and the total interest paid over the life of the loan.

  The amortized interest amount is a greater portion of their monthly payment at the beginning of their loan. As they make payments the interest portion of their monthly payment will decrease, and a greater portion of their monthly payment will be applied to their principal.
  
  LendingClub doesn't currently offer amortization schedules,but theres a simple way they can get a general idea about how much of their payment is going toward principal and interest each month. They can use an amortization calculator, like the one found at ********************************.

  The Annual Percentage Rate (APR) on personal loans currently ranges from 6.34-35.89% APR, depending on a borrowers credit score, loan amount, loan term, and credit usage history. The APR includes the yearly interest rate and an origination fee. These rates are permitted by the federal interest rate law that applies to LendingClub Bank,N.A. (LendingClub), called the ************************* Act, at 12 U.S.C. 1831d.

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

  Customer Answer

  Date: 10/06/2023

   
  Complaint: 20689249
  
  I am rejecting this response because: they are claiming whatever they want in interest . It was not what I signed up for after reviewing the contracts I noticed they left in blank and now they charge me sometimes more than 50% of my monthly payments . When my bank rejects their payments they automatically withdraw it again within 7 days so my payment it was never more than 15 days late . There is no explanation to the abusive charges on my monthly payments .
  
  Sincerely,
  
  *****************************************

  

  Business Response

  Date: 10/12/2023

  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.

  If LendingClub cannot debit a members authorized ACH payment from their bank account, we may represent the payment after the initial payment processing date.

  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.

  On September 11, 2022, ******************************* ACH payment failed due to insufficient funds. On September 19, 2022, a representment of their ACH payment was processed on the account, and the account was paid through September 11, 2022.

  On November 11, 2022, their ACH payment failed due to insufficient funds. On November 21, 2022, a representment of their ACH payment was processed on the account, and the account was paid through November 11,2022.

  On January 11, 2023, their ACH payment failed due to insufficient funds. On January 19, 2023, a representment of their ACH payment was processed on the account, and the account was paid through January 11,2023.

  On March 11, 2023, their ACH payment failed due to insufficient funds. On March 20, 2023, a representment of their ACH payment was processed on the account, and the account was paid through March 11, 2023.

  On April 11, 2023, their ACH payment failed due to insufficient funds. On April 20, 2023, the representment of their ACH payment failed due to insufficient funds. On April 25, 2023, ***************************************** scheduled a one-time payment to fulfill their April 11, 2023 monthly payment obligation.

  As long as a members account is current, they may make a permanent due date change up to 15 days before or after their original due date. Their fixed-rate account accrues interest daily, so changing their due date can affect the total interest they pay. While changing their due date doesnt change their monthly payment amount, moving the due date to a later date may result in them having to pay an additional amount once their account matures. This additional amount covers any interest accrued because of the due date change. On April 25, 2023, ***************************************** changed their due date from the 11th to the 20th of each month.

  On August 20, 2023, their ACH payment failed due to insufficient funds. On August 27, 2023, the representment of their ACH payment failed due to insufficient funds. On September 1, 2023, they submitted a ********* payment to fulfill their August 20, 2023 monthly payment obligation.

  On September 20, 2023, their ACH payment failed due to insufficient funds. On September 27, 2023, the representment of their ACH payment failed due to insufficient funds. On October 5, 2023, they scheduled a one-time payment to fulfill their September 20, 2023 monthly payment obligation.

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

  Customer Answer

  Date: 10/15/2023

   
  Complaint: 20689249
  
  I am rejecting this response because:
    They are making up excuses for the abusive interest charges . As in contract photos I sent show payments later than 15 days will be charged a flat rate . My payments were never made after 15 days after the due date .

  as show as well on proof sent to bbb they sent me a contract with the interest rates I was going to be charged then on another paper in the fine print said about charging the interest as a mortgage style but left in blank the amount .

  it is show clearly they left in blank to be able to charge what they fell like .

  last payment of amounts $700 paid to them only $250 ish was added to my principal balance that is more than 50% of interest if I have had read that I would never take that loan that is way more interest I was paying on my credit card . Its fine they will keep making up excuses and not address the problem . If the problem doesnt get solved here I am willing to go further with this . 
  Sincerely,
  
  *****************************************

• Initial Complaint

  Date:10/02/2023

  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.

  Account Name: LENDING CLUB CORP Amount: $36669 Date Opened:2/15/2023 Acct# ********* The credit bureaus keep disrespecting the law . I have showed them multiple times how they are violating the FAIR CREDIT REPORTING ACT .According to 15 USC 168i(15) the credit bureaus have to modify or delete account that are not reporting accurately. According to 15 USC ****b(1) the credit bureaus dont have no written permission According to 15 USC **** have the right to privacy According to 15 USC 168s-2 A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate .(B) Reporting information after notice and confirmation of errors According to 15 USC **** I have the right to privacy According to 15 USC ****s-2 A person shall not furnish any information relating to a consumer to any any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate.(B) Reporting Information after notice and confirmation of errors A person shall not furnish information relating to a consumer to any consumer reporting agency (i) The person has been notified by the consumer, at the address specified by the person for such Notices, that specifies information inaccurate, and (ii) the information is, in, fact, inaccurate. The credit bureaus have no respect for the laws.Someone needs to hold them accountable for this.

  

  Business Response

  Date: 10/05/2023

  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 indicate that *************************** received a personal loan on February 15, 2023. Contractual monthly payments have been received on the loan from March 2023 to July 2023, and for September 2023. The account is current, and the next payment is due on October 15, 2023.
  
  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 their 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 February 2, 2023. To view the TIL disclosure and other important documentation, *************************** will need to sign into their LendingClub account online at lendingclub.com.
  
  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. 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.
  
  When borrowers notify us that they may be a victim of identity theft, LendingClub conducts a thorough investigation to determine if a loan has been fraudulently obtained. A fraud investigation was opened on March 24, 2023, when LendingClub received a fraud claim through the credit bureaus. The investigation was closed on March 25, 2023, and the fraud claim was declined due to them having received benefit of funds. *************************** was notified of this determination by mail.
  
  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 an account may be reflected in their credit report, as well as a record of on-time payments. To remain fair and impartial to all borrowers,we are unable to make modifications or exceptions to our credit bureau reporting policy.
  
  Upon receipt of this complaint, it was confirmed that all account information has been accurately reported. LendingClub Bank reports to the credit bureaus each month;however, please allow up to 60 days or more for the credit bureaus to report the update on their credit report. If *************************** notices a discrepancy in our reporting after this time, please have them contact us again and we will be more than 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 phone at **************, Monday - Friday 7a.m.- 4p.m. Pacific Time.
  

• Initial Complaint

  Date:10/02/2023

  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 applied for a personal loan of 20k, they never got back to me and i assumed the loan was denied. I went and applied for a loan from a different agency and was approved almost instantly. I got an email telling me i was approved for the original loan and now i don't want it. When i called in they said they couldn't do anything about it.

  

  Business Response

  Date: 10/09/2023

  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 LendingClub receives an application request, we provide 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 your loan, including the Annual Percentage Rate (APR) and origination fee. LendingClub requires that applicants review the TIL and electronically accept the Borrower Agreement before submitting an application. Our records indicate ***************************** reviewed the TIL and accepted the Borrower Agreement on September 18, 2023. To view the TIL disclosure and other important documentation, ***************************** can sign into their LendingClub account online at lendingclub.com.

  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 October 2, 2023 and we received their request to cancel their loan on October 3, 2023. 

  We advise ***************************** keep the whole loan amount in the bank account the funds were sent to. Well withdraw that amount within the next seven business days. If we cant withdraw the whole amount, then ***************************** will be fully responsible for the loan along with any fees or interest as outlined in the Borrower Agreement.

  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:10/02/2023

  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 filed an application for a loan on September 18th. They boast immediate approval and money within a few days. It's been 2 weeks and I've received zero communication from ************ about my application and zero funding. I tried contacting their customer service and was told I was approved and it should be funded very soon, that came and went and still no money. And still no communication from them about approval. I cannot apply elsewhere because of this and they haven't actually followed through on the loan.

  

  Business Response

  Date: 10/05/2023

  Thank you for giving LendingClub Bank, N.A. (LendingClub) the opportunity to respond to ************************ Better Business Bureau (BBB) complaint dated October 2, 2023. LendingClub strives to provide the very best service to our customers and appreciates their feedback.

  LendingClub records report that ******************************* submitted a loan application on September 18, 2023. The loan was approved and sent for funding on this same day.

  On September 21, 2023, September 27, 2023, and October 2, 2023, LendingClub advised ******************************* that the loan was in funding. They were advised that funding may take longer than usual due to current market conditions, and investors are less inclined to invest in all areas of credit. We apologize for the inconvenience.

  Our records report that ************************ balance transfer loan originated on October 2, 2023, and the loan funds were issued as per their balance transfer worksheet. They were notified of the loan issuance via email.

  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 by phone at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.