LendingClub Corporation

Thank you for giving LendingClub the opportunity to respond to [redacted]’s Revdex.com (Revdex.com) complaint. 
Prior to acceptance of a loan offer, the applicant is presented with an estimated Truth in Lending (TIL) disclosure that provides terms of the loan including the loan...

duration (36 or 60 months), Annual Percentage Rate (APR), any finance charges, amount financed, and the total number of payments.  LendingClub records show that [redacted] selected a 36 month offer and accepted the terms of her TIL disclosure on 1/13/2017.
LendingClub is an online marketplace connecting borrowers and investors.  All personal loans offered through our marketplace are unsecured, fully-amortizing loans that are originated and issued [redacted], member FDIC.  Loans through our marketplace are subject to a one-time origination fee.  APR’s currently range between 5.99% and 35.89%, depending on the borrower’s credit worthiness.
On 9/7/17, we sent a letter detailing account information to [redacted] address on file via [redacted].
We thank you again for the opportunity to respond to this complaint brought to your attention by [redacted].  To the extent that [redacted] has any further questions, please have her contact LendingClub directly by email at [redacted] or phone [redacted] Mon-Fri 6am-5pm Pacific Time and Sat 8am-5pm Pacific Time.

Initial Business Response /* (1000, 5, 2015/01/27) */
Thank you for giving Lending Club the opportunity to respond to [redacted] 's Revdex.com (Revdex.com) complaint.
The toll-free number included in the Lending Club solicitation that Ms. [redacted] received is the Consumer Credit...

Reporting Industry Opt-In and Opt-Out toll-free telephone number. This number is provided for consumers who receive Lending Club solicitations and would like to be removed from receiving "pre-screened" offers from Lending Club and other companies. These credit offers originate from the Consumer Credit Reporting Industry, not Lending Club. Under the Fair Credit Reporting Act (FCRA), consumer credit reporting companies such as Transunion and Experian are permitted to include your name on lists used by creditors or insurers to make firm offers of credit or insurance not initiated by you ("Firm Offers"). The FCRA also provides you the right to "Opt-Out", which prevents consumer credit reporting companies from providing your credit file information for Firm Offers.
To comply with Ms. [redacted]'s request, we have removed her name and mailing address from our marketing database to ensure that she will no longer receive mail solicitations from Lending Club.
We thank you again for the opportunity to respond to this complaint brought to our attention by Ms. [redacted]. If Ms. [redacted] as any further questions or concerns, please have her contact Lending Club directly by email at [redacted]@lendingclub.com or phone XXX-XXX-XXXX Mon-Sat. 6am-5pm PST.
Initial Consumer Rebuttal /* (2000, 7, 2015/02/03) */
(The consumer indicated he/she ACCEPTED the response from the business.)
I am satisfied with the result of being removed from the listing. Thank you very much for your help.

Initial Business Response /* (1000, 5, 2014/11/10) */
Revdex.com Complaint Case # XXXXXXXX
Consumer: [redacted]
Case Opened: [redacted]
Consumer Complaint:
Consumer was sent a pre-approved loan offer and was offered a different rate when applied
Consumer's Desired...

Response:
Consumer would like to be taken off all mailing lists.
Thank you for giving us the opportunity to respond to [redacted]'s Revdex.com complaint.
We use information provided by credit bureaus, including credit score, outstanding debt, payment history, and recent credit activity, to identify potential borrowers, and send pre-approved loan offers based on those criteria.
At the time of a loan application, we ask for other important information, such as income and employment status. Because several weeks pass between the pre-screening process and the actual application, we also request updated information from the credit bureaus.
As stated in the mailer, rates on loans available through Lending Club range from 6.78% A.P.R. to 29.99% A.P.R. The rates are determined on an individual basis at the time one applies for a loan, based on a variety of factors including credit score, the ratio of your total outstanding debt to income, credit history, and recent credit activity.
To qualify for the lowest rate, applicants must have excellent credit, including a high credit score, low percentage of total outstanding debt versus income, a long history of credit with significant successful credit lines, and other factors. Our Web site contains detailed information on how we set rates.
Please note that the pre-screening process and loan application do not affect credit score, because neither action is reported to credit bureaus as a hard credit inquiry.
Lending Club has taken the necessary steps to ensure that Mr. and Ms. [redacted] no longer receive mail solicitations from our company. We have removed their names and address from our marketing database.
We thank you for the opportunity to respond to this complaint brought to our attention by Mr. [redacted]. Please let us know if there are any further questions on this matter. Mr. [redacted] is welcome to contact Lending Club Member Support directly via email [redacted]@lendingclub.com or phone XXX-XXX-XXXX Mon-Sat. 6am-5pm PST.
Initial Consumer Rebuttal /* (2000, 7, 2014/11/18) */
(The consumer indicated he/she ACCEPTED the response from the business.)

Initial Business Response /* (1000, 5, 2014/08/20) */
Revdex.com Complaint Activity Report Case # XXXXXXXX
Borrower Name: [redacted]
Lending Club is in receipt of Revdex.com (Revdex.com) complaint case number XXXXXXXX. Lending Club is aware of the situation referenced in the complaint to...

the Revdex.com. The circumstances of the event to which Ms. [redacted] has fallen victim are not the result of any actions by Lending Club or its affiliates. We are sorry to report that Ms. [redacted] was defrauded by an ongoing scheme where the Lending Club name or a variation of Lending Club is used to entice victims to pay up-front fees for non-existent loans.
It appears that after a victim has applied for a loan online through an unaffiliated website, the victim's loan request information is somehow obtained by the fraudsters. The fraudster then contacts the victim using the Lending Club name or a variation of Lending Club. They promise the victim that they can obtain a loan through Lending Club by paying an application fee. In some instances, the fraudsters return to the same victim multiple times requesting additional funds in exchange for securing a loan. Funds are usually transferred to the fraudsters through the use of a Green Dot or Vanilla Visa card (or similar device), companies with whom Lending Club has no relationship.
All loans obtained through the Lending Club platform are made without any application fee and are funded by WebBank, a Utah Industrial Bank. Information regarding the relationship between Lending Club and WebBank may be found on our website at lendingclub.com.
Regrettably, Ms. [redacted] is another victim of this fraud scheme. She is not a consumer who has engaged in any financial transactions with Lending Club. The people she spoke with were part of the fraud scheme. The application fees delivered by Ms. [redacted] were not sent to Lending Club; they were likely sent directly to the fraudsters.
The Lending Club Fraud Department has reached out to Ms. [redacted] to contact us. Upon contacting us, we will advise her that she is a victim of this fraud scheme and will recommend that she add a fraud alert to her Credit bureau report as well as file a complaint with the FTC.
To our knowledge, these fraudsters have not been found to date and continue to prey upon their victims.
Lending Club continues to work with consumers and any and all appropriate and willing law enforcement agencies to find and prosecute these fraudsters (FBI Complaint Id: IXXXXXXXXXXXXXXXX, FTC Complaint Id: XXXXXXXX). The United States Secret Service (San Francisco chapter) met with Lending Club on 11/13/13 to discuss this issue and has since launched their investigation.

Initial Business Response /* (1000, 5, 2015/11/09) */
Thank you for giving Lending Club the opportunity to respond to [redacted]' Revdex.com (Revdex.com) complaint.
To determine whether someone qualifies for a loan offer, Lending Club uses information provided by the credit...

bureaus, including credit score, outstanding debt, payment history and recent credit activity. We also request additional information, such as income and employment status. Both sets of information are used to determine if an applicant qualifies for a loan offer. The specific reasons why Ms. [redacted]' application was declined were provided in an adverse action notice, which she can view by logging into her Account Summary.
If Ms. [redacted] feels that the information in her credit report isn't correct, we encourage her to reach out directly to the credit reporting agency. She can do this through their websites:
TransUnion: www.transunion.com
Equifax: www.equifax.com
Experian: www.experian.com
Please note that the pre-screening process and loan application did not affect her credit score, because neither action is reported to credit bureaus as a hard credit inquiry. Ms. [redacted] is eligible to apply again for a loan via Lending Club thirty days after the date of her last application.
If there are further questions regarding this matter, please have Ms. [redacted] contact Lending Club directly by email at [redacted]@lendingclub.com or phone XXX-XXX-XXXX Mon-Sat 6am-5pm PST.
Initial Consumer Rebuttal /* (2000, 7, 2015/11/13) */
(The consumer indicated he/she ACCEPTED the response from the business.)

Thank you for giving us the opportunity to respond to [redacted]’s Revdex.com (Revdex.com) complaint.
LendingClub is an online marketplace connecting borrowers and investors. All personal loans offered through our marketplace are unsecured, fully-amortizing loans that are originated and...

issued by WebBank, member FDIC. LendingClub offers borrowers three options for repaying their loan. Payments can be automatically deducted from a verified bank account, checks can be sent, or borrowers can authorize one-time ACH payments by phone.
LendingClub provides payment flexibility by allowing borrowers to permanently move their payment due date. Borrowers may also make their monthly payment any time within 15 days of the payment due date without incurring a late fee. The entire monthly payment amount is due each month and any portion not paid becomes past due, which may lead to a loan charging off. After a loan is charged off, it may be sold to a debt buyer at any time. LendingClub records indicate [redacted]’s loan was charged off on 10/31/2017 and outsourced to [redacted]). 
It is LendingClub’s policy to report all account experiences to one or more of the major credit reporting agencies. LendingClub reports both positive and negative payment histories. Late payments, missed payments, or other defaults may be reflected in a borrower’s credit report. To remain fair and impartial to all borrowers, we are unable to make modifications or exceptions to our credit bureau reporting policy.LendingClub strives to provide the very best service to all of our customers. We’re sorry we didn’t meet[redacted] expectations and appreciate his feedback. If [redacted] would like to discuss payment options, he should contact [redacted].We thank you again for the opportunity to respond to this complaint brought to your attention by[redacted]. If [redacted] has further questions, please have him contact LendingClub directly by email at [redacted] or phone at [redacted], Mon-Fri 6am-5pm Pacific Time and Sat 8am-5pm Pacific Time.

Initial Business Response /* (1000, 5, 2015/09/10) */
Thank you for giving Lending Club the opportunity to respond to [redacted]'s Revdex.com (Revdex.com) complaint.
We apologize that the application process took longer than Mr. [redacted] anticipated. As part of the application...

process, Lending Club may perform income, employment or other verification to validate information provided on the application prior to issuing a loan. Lending Club requested documents from Mr. [redacted] during the application process.
After reviewing the documents submitted, Lending Club determined that additional documentation or clarification was required, and emails were sent to Mr. [redacted] explaining what was needed. Prior to receiving all of the required documentation, Lending Club received communication from Mr. [redacted] indicating he no longer wished to proceed with the loan. As a result of this communication, Lending Club withdrew Mr. [redacted]'s application.
We are unable to reinstate Mr. [redacted]'s loan application. However, he is welcome to reapply for a loan through Lending Club in the future. Please note that the loan application did not affect Mr. [redacted]'s credit score, because it is not reported to credit bureaus as a hard credit inquiry.
To the extent that Mr. [redacted] has further questions, please have him contact Lending Club directly by email at [redacted]@lendingclub.com or phone XXX-XXX-XXXX Mon-Sat 6am-5pm PST.
Initial Consumer Rebuttal /* (3000, 7, 2015/09/22) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I appreciate Lending Club's response. However, Lending Club's response does not accurately represent the situation and contains false and incorrect statements. In addition, it does not address my proposed resolution. Finally, Lending Club does not seem to accept responsibility for its inappropriate actions as a business.
Therefore, I feel obliged to go through their claims one by one:
1. "We apologize that the application process took longer than XXXXXXX anticipated."
This is a legally sound sentence that eliminates Lending Club as a responsible party in the case and shifts the focus/blame onto the [redacted]. Lending Club provided a clear time frame for the application process and subsequently did not meet its self-imposed deadlines. My "anticipation" was directly correlated with the information provided by Lending Club when I started the loan application. When a company says a loan will be issued by day X, I, as a [redacted], anticipate the company does not lie to me, that is, the loan will actually be issued by day X. Not only did Lending Club break their promise by not issuing the loan by Aug 1, but also did not communicate with me until Aug 11. To reiterate, the loan could have been issued even earlier than Aug 1 because it was fully funded on Jul 31.
Evidence confirming the above has already been presented. Because Lending Club does not accept any responsibility but rather wrongly analyzes my "anticipations", I cannot accept their apology.
2. "Lending Club requested documents from XXXXXX during the application process."
Lending Club requested documents only twice: On Jul 24, 2015 (via an automated email when I applied for the loan) and on Aug 11, 2015 (10 days after the loan should have been issued and when it was withdrawn by Lending Club out of the blue). I'm not certain what they mean by the word "during" here.
The matter of fact is that Lending Club left me in the dark for 19 days from Jul 24 to Aug 11 with no real communication, no update on the loan status, no issued loan, no requests for new documents, absolutely nothing.
3. "After reviewing the documents submitted, Lending Club determined that additional documentation or clarification was required, and emails were sent to XXXXXX explaining what was needed."
This is a false statement. Lending Club did not make any attempt to contact me from Jul 24, 2015 to Aug 11, 2015 in regard to the documents I submitted on Jul 24, 2015. All emails I received during that period were automated emails mainly triggered by my ~11 attempts to contact them. Moreover, I did not receive a single email "explaining" what was needed during these more than 19 days of silence. The plural "emails" that Lending Club uses here does not correspond to factual reality.
4. "Prior to receiving all of the required documentation, Lending Club received communication from XXXXX indicating he no longer wished to proceed with the loan. As a result of this communication, Lending Club withdrew XXXXXX's application."
Another false statement showing total lack of respect for the [redacted]. Instead of accepting responsibility for its own mistakes, Lending Club shifts the blame to the [redacted], again. What is even worse is the fact that these events did not occur.
First, I never indicated I wanted to not proceed with the loan. I have never made such a statement.
Second, I sent them an email on Aug 10 to inquire about my loan and let them know that after 18 days of silence they could not continue wasting my time. I told them that I wanted them to get back to me by 5pm PST on Aug 11th so I knew what to do. Apparently that email finally triggered a response and they emailed me back at 11:42am on Aug 11, 2015 asking, in a somewhat rude way, for additional documentation.
Third, I'll repeat that the first real communication from them after Jul 24, 2015 occurred exactly at 11:42am on Aug 11, 2015.
Forth, Lending Club withdrew my application at 4:57pm on the same day Aug 11, 2015, which was about 5 hours after their first email communication requesting other documents. I saw both emails later that day after my application had already been withdrawn without any explanation.
Lending Club acted extremely unprofessionally. Lending Club seems to manipulate the facts to avoid responsibility. Lending Club's statement implies that I communicated with them in between 11:42am and 4:57pm on Aug 11, 2015 and explicitly indicated I wanted to withdraw my application. This is 100% untrue. I'd be happy to see any evidence of such communication, as their statement suggests.
5. "We are unable to reinstate XXXXXX's loan application."
Lending Club does not provide an explanation as to why they are unable to do this. I understand that the loan cannot be magically funded by itself, but they can reopen the same application and wait until the loan is fully funded to issue it.
6. "However, he is welcome to reapply for a loan through Lending Club in the future."
This is a general statement valid for every adult in the USA. I don't see any personal attention here or an attempt for solving my concrete issue.
7. "To the extent that XXXX has further questions, please have him contact Lending Club directly by email at [redacted]@lendingclub.com."
Lending Club provides the same general communication channel that did not lead to a single personal response after I contacted them more than ~11 times over more than 19 days. I do not find this useful or professional.
Finally, Lending Club forgets or ignores the fact that I'm currently a [redacted] of theirs with my second loan with them. I have a history of 100% on-time payments. I'll repay this second loan within less than 3-4 months (my intention was to pay it off with a tiny fraction of the third loan had it been issued on Aug X XXXX). It is inconceivable how they treat an actual [redacted] of theirs with a proven record of financial discipline.
I'm requesting what I've already proposed as a desired resolution: 1) to allow me to get the loan with an interest rate lower than the one originally presented on Jul 24, 2015 and without the loan origination fee.
I've suffered monetary loses due to the unmet promises, the unissued loan and the lack of communication.
Final Business Response /* (4000, 9, 2015/10/08) */
Thank you for giving Lending Club the opportunity to respond to [redacted]'s Revdex.com (Revdex.com) complaint.
We appreciate Mr. [redacted]'s feedback and acknowledge the points he brings up in his response. We're sorry we didn't meet his expectations and we'll use his feedback to improve our [redacted]. It is clear Mr. [redacted] would like to move forward with a loan through Lending Club, and we will assist him in anyway we can to make sure he receives an offer for which he qualifies.
Lending Club contacted Mr. [redacted] via phone on 9/30/2015 upon receipt of his request. Lending Club's records indicate that Mr. [redacted] re-applied for a loan through Lending Club on 10/2/15.
To the extent that Mr. [redacted] has further questions, please have him contact Lending Club directly by email at [redacted]@lendingclub.com or phone XXX-XXX-XXXX Mon-Sat 6am-5pm PST.
Final Consumer Response /* (4200, 11, 2015/10/17) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I don't have and want to lose more time dealing with a manipulative company such as Lending Club. I've lost more than 2 months doing that. Therefore, I'll briefly explain below why Lending Club's business practices are discriminatory, unfair, subjective and illogical.
As an introductory statement I'd say that Lending Club did NOT address the issues within my complaint regardless of what they state in their response, quoting:
"It is clear XXXXXX would like to move forward with a loan through Lending Club, and we will assist him IN ANYWAY we can to make sure he receives an offer for which he qualifies."
They did NOT assist me in ANY WAY they could.
I talked to at least 3 different people over the phone and N people over email from Sep 30, 2015 to Oct 9, 2015. My last conversation with them was at around 2:48pm PST on Oct 9, 2015 and lasted 49 minutes.
History line:
Sep 30, 2015: Lending Club reassured me I'd get the original loan of $35,000 they offered on Jul 24, 2015 and they COULD waive the loan origination fee. They did not say anything concrete about the interest rate.
Sep 30-Oct 2, 2015: I waited for them to confirm they would waive the loan origination fee and to give me some info about the interest rate before I re-applied. They did not. Regardless, I gave them the benefit of the doubt and submitted a new application.
Oct 2, 2015: New application was submitted. To my huge disappointment, I got an offer in full discrepancy in terms of amount/rates/etc from the one from Jul 24, 2015. I expected a result similar to the one from Jul 24, 2015 - that's what they promised. Instead, I was offered a ripoff:
a) $15,000 less than what I needed and what they had previously offered
b) an APR rate of >12% higher than the APR of their previous offer
c) a period of 2 years less than the length of the period of the previous offer
d) a monthly contribution almost equaling to the monthly amount of their previous offer (yet, the offered total loan amount was less than 58% of the amount of the previous offer)
Oct 3, 2015: I emailed them to inquiry about this discrepancy.
Oct 3, 2015-Oct 8, 2015: I received a number of inconsistent , semi-automated emails from Lending Club having almost nothing to do with my case.
Oct 8, 2015: I finally received a phone call upon my request over email. The agent promised if I were to proceed with my application, they would waive the origination fee and somehow honor the original interest rate. However, she did not say they could honor the original loan amount of $35,000 and did not provide a satisfactory explanation as to why I was being offered only $20,000. Regardless, I gave them the benefit of the doubt and agreed I'd go ahead with the application given she emailed me a written summary explaining the exact way and amounts of how Lending Club would waive the origination fee and honor the original interest rate. The agent promised she would do it once she got in the complete loan application with all the details. I did that shortly after we completed our phone conversation.
Oct 9, 2015: I never received the promised follow-up email with a written explanation of the logistics of the Lending Club's offer. In the meantime, my loan got fully funded (within less than 24 hours after submission) with the message of "Your money is almost in your hands." This was just the N-th lie coming from Lending Club. I received a phone call from another agent who asked me why I did not have my current sources of income on my 2014 Tax Form. I told him because I no longer worked what I used to work in 2014. He told me that they could not verify my income because I did not have a 2015 Tax return filed. I explained it was Oct 2015 and there was not way for me to have filed my 2015 tax forms and I insisted they could verify my income by requesting other documents such as pay statements, etc. He explained that they could only use tax returns for income verification purposes and hence, they were denying my loan application. I was shocked. I explained that they could not require me to present a 2015 Tax Return that was physically, legally and factually impossible to obtain during that time of the year. I insisted again on other means of income verification. He continued with his claims that they could verify my income ONLY if they received my 2015 Tax Return. It was clear they did NOT WANT to find another way to verify my income. I also spoke with the supervisor - the same lady I talked to on Oct 8, 2015 - but she was also reluctant to assist in verifying my income by other means. No logical and objective explanation was provided as to why.
Conclusion: My loan application was denied by Lending Club because they refused to verify my current income!
Thinking logically and objectively, they could have used my 2014 Tax Return ONLY, but refused because they claimed I had informed them in my application I'd switched jobs in 2015. Alternatively, they could have fully ignored my 2014 Tax Return and based their review on an actual verification of my CURRENT income, but refused as well because "their policy" was to use ONLY my 2015 Tax Return for such verification purposes, which was an impossible requirement from their side bearing in mind we were in the middle of Oct 2015.
Looking at another Revdex.com claim (05/11/2015 Problems with Product / [redacted]), one can see that a somewhat similar situation was resolved by Lending Club by:
"Mr. [redacted] was able to PROVIDE FURTHER DOCUMENTATION TO SUPPORT THE INCOME stated on his application. Due to this new information, Lending Club was able to APPROVE this application."
In my case, Lending Club refused to accept further documentation supporting my income. Therefore, I can clearly say that Lending Club discriminated against me.
As final a note, my prior history with Lending Club had been:
1. May 2012: approved loan of $12,000, 36 months. Status: Paid, Closed Feb 2013, Never late.
2. Jan 2013: approved loan of $16,000, 36 months. Status: Open, Never late. To pay off within 2 months, Jan 2016.
As a matter of fact, my income behind BOTH of these approved loans was significantly LESS than my current income.
Therefore, it is more than obvious that Lending Club subjectively and discriminatory denied my loan application of $20,000. I speculate that they did a horrible mistake with my original loan application of $35,000; did not admit it; saw my claim report on Revdex.com; did not like it; pretended they would assist me with a re-application so they could clear up their name; gave false promises, lied to me, manipulated me and made me lose a significant chunk of my time; and finally denied my loan application by requiring an impossible to obtain document and by refusing to verify my current income by any other means & documentation.
I do NOT accept Lending Club's responses, actions, resolution and business practices.
It seems that Lending Club is a different company nowadays from the one prior its IPO in Dec 2014. [redacted] retention and satisfaction is no longer a priority.

Consumer called to say issue has been resolved to her satisfaction.

Thank you for giving Lending Club the opportunity to respond to [redacted] Revdex.com (Revdex.com) complaint.
Under the Fair Credit Reporting Act (FCRA), consumer credit reporting agencies, such as...

Transunion and Experian, are permitted to include a consumer's name on lists used by creditors or insurers to make firm offers of credit or insurance not initiated by the consumer ("Firm Offers"). Under these same rules, Firm Offers must include instructions for how the consumer may opt-out of receiving future offers. Lending Club direct mail solicitations include a toll-free telephone number, as well as addresses for each of the three major national credit reporting agencies, which consumers can call to opt-out of all Firm Offers. Additionally, the solicitation includes a mailing address and email for consumers to specifically opt-out of communications from Lending Club.
To comply with Mr. [redacted] request, Lending Club removed the following contact information from our mailing list on 3/30/2016:
 
[redacted] [redacted]
 
Mr. [redacted] should allow three to five weeks to no longer receive postal mail from Lending Club. We apologize for any inconvenience this may cause. Additionally, if there’s another name or address Mr. [redacted] would like us to remove from our marketing list, please have him contact Lending Club and we will promptly remove. We attempted to contact Mr. [redacted] upon receipt of this complaint to apologize for his experience and confirm the correct contact information.
[redacted] or phone at [redacted] Mon-Sat 6am-5pm PST.

Revdex.com:I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. Sincerely, [redacted]

Complaint: [redacted]I am rejecting this response because:Sincerely,[redacted]
 
This does not address why I keep getting fake spam pre-approval emails.   I have received no more than 7 just this year alone saying I was pre-approved.  An example of offers from this company and not only by email but mail also.  I have received even more than that by physical mail.  And when you get denied they refer you to [redacted] Financial to get a loan from.  This is like a bait and switch.. Your pre-approved for a loan contact us.  Oh you are not approved contact [redacted].

Initial Business Response /* (1000, 5, 2016/01/05) */
Thank you for giving Lending Club the opportunity to respond to [redacted]'s Revdex.com (Revdex.com) complaint.
Mr. [redacted]'s December payment amount included a late fee which was assessed due to a late payment in the prior...

month. After researching our records, we understand there was some confusion regarding the earlier payment, so Lending Club has refunded the late fee. To the extent that the late fee caused overdrafts in Mr. [redacted]'s bank account, Lending Club will also return those fees provided the borrower can substantiate them with documentation.
As for the date of the December payment, Lending Club records indicate the funds for Mr. [redacted]'s December monthly payment were received on 12/21/2015. Lending Club notifies financial institutions of the upcoming transaction the business day prior to the payment due date. As a result, some financial institutions may list the transaction as "pending" on a consumer's bank account. Lending Club recommends that Mr. [redacted] contact his financial institution to learn more about how pending transactions affect his account.
If there are further questions regarding this matter, please have Mr. [redacted] contact Lending Club directly by email at [redacted]@lendingclub.com or phone XXX-XXX-XXXX Mon-Sat 6am-5pm PST.
Initial Consumer Rebuttal /* (2000, 7, 2016/01/08) */
(The consumer indicated he/she ACCEPTED the response from the business.)

Thank you for giving LendingClub the opportunity to respond to [redacted] Revdex.com (Revdex.com) complaint. 
LendingClub is an online marketplace connecting borrowers and investors. All personal loans offered through our marketplace are unsecured, fully amortizing loans that...

are originated and issued by [redacted], member [redacted]. All of **. [redacted] loan details, including her payment history and details can be viewed in her Account Summary by clicking here: [redacted].
Our records indicate **. [redacted] loan is paid in full. In accordance with our Borrower Agreement, any origination fee amount in excess of 5% is refundable on a prorated basis over the term of the loan if the loan is paid in full prior to its maturity date.  Because **. [redacted] origination fee was in excess of 5%, she received a refund of $95. Due to an overpayment, **. [redacted] received a second refund of $70.60. LendingClub spoke with **. [redacted] on 7/18/2017 to apologize for the confusion and confirm her refund amounts.
We thank you again for the opportunity to respond to this complaint brought to your attention by **. [redacted]. To the extent that she has further questions, please have her contact LendingClub directly by email at [redacted] or phone at [redacted], Mon-­Fri  7am - 4pm Pacific Time.

Initial Business Response /* (1000, 5, 2015/11/17) */
Thank you for giving Lending Club the opportunity to respond to [redacted]'s Revdex.com complaint.
In February 2015, Mr. [redacted] registered as a Lending Club investor. A Lending Club representative assured...

him that a bonus would be credited to his account. Unfortunately, this was not followed through in a timely fashion.
Thanks to Mr. [redacted]'s inquiry about the status of his bonus, Lending Club conducted an investigation into the issue. A Lending Club representative discussed the specifics with Mr. [redacted] and resolved the situation to his satisfaction. No other accounts were impacted.
Lending Club apologizes for the delay in the processing time of Mr. [redacted]'s bonus and any confusion that may have caused.
To the extent that Mr. [redacted] may have further questions, please have him contact Lending Club directly by email at [redacted]@lendingclub.com or phone XXX-XXX-XXXX Mon-Fri 7am-5pm PST.
Initial Consumer Rebuttal /* (2000, 7, 2015/11/20) */
(The consumer indicated he/she ACCEPTED the response from the business.)

Initial Business Response /* (1000, 6, 2015/03/17) */
Thank you for giving us the opportunity to respond to [redacted]'s Better Business Complaint.
Lending Club's policy gives our borrowers the option of making additional payments at any time to reduce the total cost of the loan. Any...

additional payment will be applied towards a reduction in the principle of the loan, thus reducing the total amount of interest paid.
Lending Club's internal processing of payments can take up to five business days. In instances where two payments are close together, our system may not display the transactions until both payment transactions are completed. Mr. [redacted] requested to make additional payment on February 24, 2014 towards the principle amount of his loan and make his monthly payment on March 2, 2014. Our representatives explained our processing procedure to Mr. [redacted] and assured him the funds will be applied accordingly, but will not reflect on his Lending Club account until both transactions are complete. Our records indicate that the payments were applied correctly and calculated from the day we received Mr. [redacted]'s payment.
We have reached out to Mr. [redacted] in attempt to clarify our payment calculation. To the extent Mr. [redacted] has further questions, please feel free to contact Lending Club directly by email at [redacted]@lendingclub.com or phone XXX-XXX-XXXX Mon-Sat 6am-5pm PST.
Initial Consumer Rebuttal /* (3000, 8, 2015/03/19) */
(The consumer indicated he/she DID NOT accept the response from the business.)
They applied both payments at the exact same time as if I had only made one payment on 3/2 and interest was calculated for one amortized month. They DID NOT apply the first payment effective the day it was received,2/24. They history shows one large payment and not two distinctly different payments. It would only amount to a small amount of interest but this is still incorrect. The money was sitting in their account drawing interest I am sure but not applied until 3.2.
Final Business Response /* (4000, 10, 2015/04/06) */
Thank you for the opportunity to respond to the complaint from Mr. [redacted].
Mr. [redacted] brings up the concern that Lending Club did not apply his additional payment on the day it was received and, as a result, he believes interest has miscalculated on his account. Lending Club has been in contact with Mr. [redacted] personally to address his concerns.
The additional payment received by Lending Club on 2/24 has been applied appropriately and an adjustment has been made to Mr. [redacted]'s account. Due to system restrictions, we are unable to change the way Mr. [redacted]'s payments are displayed in his Account Summary; however, payments have been applied as of the date they were received. We understand the confusion this sometimes causes. As we explained to Mr. [redacted], because his payments were made close together, they are grouped as one payment in his account summary; however, the system recognizes them as two distinct payments and interest is calculated accordingly. Lending Club credited the interest accrued during the payment processing time to Mr. [redacted]'s account.
We thank you again for the opportunity to respond to this complaint brought to your attention by Mr. [redacted]. Please let us know if there are any further questions on this matter. Additional questions may be directed to Lending Club Member Support directly via email [redacted]@lendingclub.com or phone XXX-XXX-XXXX Mon-Sat. 6am-5pm PST.
Final Consumer Response /* (4200, 12, 2015/04/10) */
(The consumer indicated he/she DID NOT accept the response from the business.)
They have yet to prove to me that the first payment was applied when I made it on February 24th. My outstanding principal balance shows that only one large payment was applied, not two separate payments.
If what they are saying was true my principal balance would be a few dollars less than what I see and the interest paid on the second payment would be a few dollars less. I would like to see an amortization schedule showing when and how the payments were applied.

Initial Business Response /* (1000, 5, 2016/01/04) */
Thank you for giving Lending Club the opportunity to respond to [redacted]' Revdex.com (Revdex.com) complaint.
Under the Fair Credit Reporting Act (FCRA), consumer credit reporting agencies, such as Transunion and Experian, are...

permitted to include a consumer's name on lists used by creditors or insurers to make firm offers of credit or insurance not initiated by the consumer ("Firm Offers"). Under these same rules, Firm Offers must include instructions for how the consumer may opt-out of receiving future offers. Lending Club received Ms. [redacted]' request to opt out of marketing material on 12/01/2015 via email. We promptly removed the contact information she provided in her email from our marketing list.
Once Lending Club opts out a mailing address, it may take three to five weeks for all postal mail to stop arriving at the stated address. In some instances, there may be marketing materials that were sent prior to our processing of an opt-out request. Lending Club apologizes for the inconvenience we may have caused Ms. [redacted].
If there's another address where Ms. [redacted] has been receiving mail that she also wants us to remove from our list, please have her contact Lending Club.
We thank you again for the opportunity to respond to this complaint brought to your attention by Ms. [redacted]. To the extent that Ms. [redacted] has further questions, please have her contact Lending Club directly by email at [redacted]@lendingclub.com or phone at XXX-XXX-XXXX Mon-Sat 6am-5pm PST.
Initial Consumer Rebuttal /* (2000, 7, 2016/01/06) */
(The consumer indicated he/she ACCEPTED the response from the business.)
As long as there is no further solicitation from Lending Club, I will not have any further issue.
Final Consumer Response /* (2540, 12, 2016/02/26) */
Hello [redacted],
I just recieved another mailing from Lending Club. When I initially received their email response stating that I was removed and to allow 3-5 weeks, that was the 3rd week of December 2015. Per my records, 3-5 weeks from their email notice would expire the end of January 2016. We are now in almost the last week of February, and the second mailing has been received. They initially stopped sending items after they sent me the email notice, however, 8 weeks have passed [redacted] they are continuing to send mailings, as if the request was never submitted.
Thank you~
[redacted]
Final Business Response /* (2600, 14, 2016/03/11) */
Thank you for giving Lending Club the opportunity to respond to [redacted] Revdex.com (Revdex.com) complaint.
Lending Club attempted to speak with Ms. [redacted] via phone on 3/3/2016 to confirm the address she is receiving marketing material from Lending Club. We double checked our records, and we show that we removed the address provided by the Revdex.com from our marketing lists. In the event there was an error with processing the opt-out, we have processed the request again, as a precaution. It may take an additional three-to-five weeks for all postal mail to stop arriving at the addresses provided, as there may be marketing material that were sent prior to this re-processing of the opt-out request. Lending Club apologizes for any inconvenience we may have caused.
If there's another address where Ms. [redacted] has been receiving mail that she also wants us to remove from our list, please have her contact Lending Club.
We thank you again for the opportunity to respond to this complaint brought to your attention by Ms. [redacted]. To the extent that Ms. [redacted] has further questions, please have her contact Lending Club directly by email at [redacted]@lendingclub.com or phone at XXX-XXX-XXXX Mon-Sat 6am-5pm PST.

Initial Business Response /* (1000, 5, 2014/07/24) */
Revdex.com Complaint Case # XXXXXXXX
Consumer: [redacted]
Case Opened: 7/22/2014
Consumer Complaint:
Company sends letters in the mail to applicants and must provide personal information over the phone to opt out.
Consumer's Desired...

Resolution:
Opt out of marketing materials
Thank you for the opportunity to respond to the complaint from Mr. [redacted]
The direct mail piece that was sent to Mr. [redacted] contains the Consumer Credit Reporting Industry Opt-In and Opt-Out toll-free telephone number. This telephone number is for consumers who want to stop receiving "pre-screened" offers of credit from our company and other companies. The information requested originated from the Consumer Credit Reporting Industry, not Lending Club.
Lending Club has taken the necessary steps to ensure that Mr. and Ms. [redacted] will no longer receive mail solicitations from our company. We have removed their names and address from our marketing database.
We thank you for the opportunity to respond to this complaint brought to our attention by Mr. [redacted]. Please let us know if there are any further questions on this matter. Mr. [redacted] is welcome to contact Lending Club Member Support directly via email [redacted]@lendingclub.com or phone XXX-XXX-XXXX Mon-Sat. 6am-5pm PST.
Initial Consumer Rebuttal /* (2000, 7, 2014/07/30) */
(The consumer indicated he/she ACCEPTED the response from the business.)
I am just glad we were removed from their lists. I hope they provide an easy way for customers to opt out in the future.

Thank you for giving LendingClub the opportunity to respond to [redacted]’s Revdex.com (Revdex.com) complaint.
LendingClub received [redacted]’s payoff check on 8/4/2017. [redacted] contacted LendingClub on 8/8/2017 and was informed that LendingClub had received her check and the payoff was...

being processed. Once the account reflects as paid in full, LendingClub will send a confirmation email.
We thank you again for the opportunity to respond to this complaint brought to your attention by [redacted]. If [redacted] has further questions, please have her contact LendingClub directly by email at [redacted] between 6:00 a.m. – 5:00 p.m. Monday through Friday, or 8:00 a.m. – 5:00 p.m., Saturday Pacific Time.

I have never had such an awesome experience with loan companies. This one takes the cake by far. I applied after hours on a Tuesday and was contacted the very next day with questions in regards to my application. They were with me every step of the way. Even calling their office was easy and quick! I was never on hold for longer than ten minutes and everyone that I spoke to was nice and friendly. They actually cared about you as a customer and a person. I got confirmation that I was approved on Friday and my funds were in the account the next Monday. I have told my fellow coworkers about how this company is awesome and if they need a loan that they should contact them. Definitely will go with them in the future if I ever need another loan.

Initial Business Response /* (1000, 5, 2015/07/30) */
Thank you for giving Lending Club the opportunity to respond to [redacted]'s Revdex.com (Revdex.com) complaint.
Please be assured that we take privacy and security seriously. Our security measures comply with federal law and are...

designed to meet or exceed rigorous industry standards for financial institutions. Lending Club has a policy and specific procedures for identity theft claims which include a notarized affidavit of identity theft be submitted with a police incident report. Lending Club also conducts thorough internal investigations to determine if a loan has been fraudulently obtained. We cannot complete our internal investigation without receiving all requested documentation.
As of the time of this complaint, Lending Club is still waiting for local law enforcement authorities to complete their investigation of Mr. [redacted]'s allegations of fraud. Once complete, we will update Mr. [redacted]'s loan account status and credit bureau reporting to reflect investigation results.
Lending Club is committed to absolute integrity and ethical employee conduct. Our employee Standards of Conduct include very specific guidelines concerning the safeguarding of confidential [redacted] information. In general, these guidelines limit employee access to confidential information and limit the use and disclosure of such information to specifically authorized processes and transactions. If it is determined that an employee has violated the Standards of Conduct, we may take disciplinary action up to and including termination.
After reviewing all communication between Mr. [redacted] and Lending Club, we have determined our employees did not act inappropriately.
Also, Mr. [redacted] stated in his Revdex.com complaint that the outstanding balance on this loan is being misreported on his credit report. We researched and resolved this issue. Mr. [redacted] may contact Lending Club Member Support for more information.
If there are further questions regarding this matter, please have Mr. [redacted] contact Lending Club directly by email at [redacted]@lendingclub.com or phone XXX-XXX-XXXX Mon-Sat 6am-5pm PST.
Initial Consumer Rebuttal /* (3000, 7, 2015/08/05) */
(The consumer indicated he/she DID NOT accept the response from the business.)
After reviewing the response from Lending Club, I am still dissatisfied with the current state of this matter. After Contacting detective [redacted] of the 113th precinct, who personally handled my case, I requested he resubmit details regarding his investigation to The lending club corporation. Upon receipt of those details, Mr. [redacted] (fraud investigator) of the Lending club corporation responded to me with the following email:
"Dear [redacted],
We understand that fraud was alleged on a loan issued on 8/19/2014 in your name. Upon receiving your notarized ID Theft Affidavit and incident report, Lending Club opened a fraud investigation based on your claim.

After carefully reviewing the transactions of this loan and documentation provided, we have referred your claim to New York Police Department to determine if this matter was fraud or is otherwise criminally prosecutable, together with all available information on this loan application.

Recently, we have received a notice from New York Police Department describing its conclusion of the investigation, case number [redacted] (Loan ID XXXXXXXX), and it found no evidence to establish fraud or that any crime had occurred and that no further action will be taken".
I spoke to detective [redacted] again after receiving this email, who told me that the lending club corporation in fact could remove the negative information based on the findings of his investigation. Now Bear in mind that many identity theft victims do not know and may never know who stole or misused their personal information, how it was stolen, or other aspects of the crime. If the victim cannot provide these kinds of details, or the police cannot find the person responsible for the theft, creditors should not assume the victim responsible or liable for the debt. Over $20,000 of credit was given from one creditor to someone assuming my identity. Once again I will not be satisfied until this debt is removed from my credit report and the account is closed. Thank you.
Final Business Response /* (4000, 9, 2015/08/13) */
Thank you for giving Lending Club the opportunity to respond to [redacted]'s Revdex.com (Revdex.com) complaint.
At the time of this response, Lending Club has received notice from New York law enforcement authorities regarding their investigation of Mr. [redacted]'s allegations of fraud. Based on their findings, along with the investigation conducted internally by Lending Club, there is no evidence that the loan involved fraud. Lending Club has ensured that Mr. [redacted]'s credit report reflects the fact that he has disputed the loan. Communication has been sent directly to Mr. [redacted], and Lending Club considers the investigation closed at this time.
It is Lending Club's policy to report all account experiences to one or more of the major credit reporting agencies. Lending Club reports both positive and negative payment histories. Late payments, missed payments, or other defaults on a borrower's account may be reflected in their credit report. To remain fair and partial to all borrowers, Lending Club is unable to make modifications or exceptions to their credit bureau reporting policy.
If there are further questions regarding this matter, please have Mr. [redacted] contact Lending Club directly by email at [redacted]@lendingclub.com or phone XXX-XXX-XXXX Mon-Sat 6am-5pm PST.