LendingClub Corporation

Thank you for giving us the opportunity to respond to Ms*** ***’s Revdex.com (Revdex.com) complaint. Loans originated through the LendingClub platform are underwritten and made by ***, member FDICLendingClub uses information provided by the 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 criteriaWe may 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 offerCommon reasons for being declined for a loan after receiving a pre-approved offer are that an applicant’s current outstanding debt is too high relative to their income or that changes have occurred in their credit report since pre-screening
LendingClub delivered an adverse action letter to *** *** on behalf of *** on 11/20/The specific reasons why *** ***’s loan application was declined are provided in the adverse action notice, which can be viewed by logging into her Account Summary. LendingClub takes the security and privacy of personal information very seriouslyOur security measures comply with federal law and are designed to meet or exceed rigorous industry standards for financial institutionsPlease note that federal and state laws require us to retain account information for a period of time so we can't delete it entirely until the required record retention period expiresRetaining this information is required of all online and off-line financial services companies, and is disclosed in our Privacy Policy. In response to this complaint, we spoke with *** *** via phone on 11/27/to apologize for her experience and explain our pre-approval processPlease note that the pre-screening process and loan application did not affect *** ***’s credit score. We thank you again for the opportunity to respond to this complaint brought to your attention by *** ***If *** *** has any additional questions or concerns, please have her contact LendingClub directly by email at *** or phone at ***, Mon-Fri 8am-5pm Pacific Time

Initial Business Response /* (1000, 5, 2015/05/21) */
Thank you for giving us the opportunity to respond to *** ***'s Revdex.com complaintWe understand Ms*** is disappointed, and we would like to clarify the pre-approval process
Lending Club uses 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
At the time of loan application, Lending Club asks the applicant for other important information, such as the applicant's personal annual income and employment statusBecause several weeks can pass *** the pre-screening process and the actual application, we also request updated information from the credit bureausBoth sets of information are used to determine if the applicant qualifies for a loan offer at that time
Common reasons for being declined for a loan after receiving a pre-approved offer are that an applicant's current outstanding debt is too high relative to the applicant's personal annual income or that changes have occurred in the applicant's credit report since pre-screeningThe specific reasons why Ms***'s loan application was declined are provided in an adverse action notice, which can be viewed by logging into her Lending Club account summary
Loans originated through the Lending Club platform are underwritten and made by WebBank, Salt Lake City, UT, member FDICLending Club delivered the adverse action letter to Ms*** on behalf of WebBank
Please note that the pre-screening process and loan application do not affect an applicant's credit score, because neither action is reported to credit bureaus as a hard credit inquiryMs*** is eligible to apply again for a loan through Lending Club in the future
We apologize for any inconvenience this may have caused Ms***To ensure Ms*** does not receive any future unwanted contact from Lending Club, we removed her contact information from our email and direct mail marketing listsIf there are further questions regarding this matter, please have Ms*** contact Lending Club directly by email at ***@lendingclub.com or phone XXX-XXX-XXXX Mon-Sat 6am-5pm PST

I began with lending club but later could not remember my passwordThere is an online system for "forgot password" and it will send a reset to your emailThe system will not send to the email they have and is providedFor a representative to help me they need my complete social security numberI'm done with lending club

Initial Business Response /* (1000, 5, 2014/08/27) */
Revdex.com Complaint Activity Report Case XXXXXXXX
Borrower Name: *** ***
Case Opened: 8/13/
Consumer Complaint:
Lending Club said consumer was pre-approved for a loan but was then denied
Consumer's Desired Resolution:
An
explanation of pre-approval process, and to be removed from marketing materials
Thank you for giving Lending Club the opportunity to respond to *** ***'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 time of application, we ask for other important information, such as income and employment statusBecause several weeks pass between the pre-screening process and the application, we also request updated information from the credit bureaus
Both sets of information are used to determine if an applicant qualifies for a loan offerCommon reasons for being declined for a loan after receiving a pre-approved offer are that an applicant's current outstanding debt is too high relative to their income or that changes have occurred in their credit report since pre-screening
The specific reasons why a loan application was declined are detailed in an adverse action notice sent to Mr***, a copy of which he can review by logging into his Account Summary
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 inquiryMr*** is eligible to apply again for a loan via Lending Club thirty days after the date of his last application
Lending Club has also taken the necessary steps to ensure that Mr*** will no longer receive mail solicitations from our companyWe have removed his email and home address from our marketing database
We have also reached out to speak to Mr***, but have been unable to make contactIf Mr*** has any further questions on the matter, he is welcome to contact Lending Club Member Support directly via email ***@lendingclub.com or phone XXX-XXX-XXXX Mon-Sat6am-5pm PST

From: *** *** (O/A) [*** Sent: Monday, June 26, 10:AMTo: info Subject: Complaint #*** Resolved
Hello,
I spoke to a representative from Lending Club who provided evidence that the referral service was not Lending Club, but a different 3rd party. I am satisfied with the evidence provided and this complaint can be marked as resolved to my satisfaction
Thank you,

Initial Business Response /* (1000, 5, 2015/10/21) */
Thank you for giving Lending Club the opportunity to respond to *** ***'s 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 offersLending 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 OffersAdditionally, the solicitation includes a mailing address and email for consumers to specifically opt-out of communications from Lending Club
The toll-free number that Mr*** called, and is referring to in his complaint, is operated by the consumer credit reporting agencies, not Lending ClubThe agencies do require the consumer to provide their social security number in order to process the consumer's opt-out requestLending Club, however, only requires enough information to properly identify the mailing address, e-mail address, or telephone number the consumer wishes to opt-out
To comply with Mr***'s request, Lending Club has removed his name and address from its mailing listPlease note that Mr*** may continue to receive Firm Offers from other companies unless he contacts the consumer reporting agencies directly
We thank you again for the opportunity to respond to this complaint brought to your attention by Mr***If Mr*** has any further questions or concerns, please have him contact Lending Club directly by email at ***@lendingclub.com or phone XXX-XXX-XXXX Mon-Sat6am-5pm PST

Initial Business Response /* (1000, 5, 2015/09/10) */
Thank you for giving Lending Club the opportunity to respond to *** ***'s Revdex.com (Revdex.com) complaint
We apologize that the application process took longer than Mr*** anticipatedAs 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 loanLending Club requested documents from Mr*** 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*** explaining what was neededPrior to receiving all of the required documentation, Lending Club received communication from Mr*** indicating he no longer wished to proceed with the loanAs a result of this communication, Lending Club withdrew Mr***'s application
We are unable to reinstate Mr***'s loan applicationHowever, he is welcome to reapply for a loan through Lending Club in the futurePlease note that the loan application did not affect Mr***'s credit score, because it is not reported to credit bureaus as a hard credit inquiry
To the extent that Mr*** has further questions, please have him contact Lending Club directly by email at ***@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 responseHowever, Lending Club's response does not accurately represent the situation and contains and incorrect statementsIn addition, it does not address my proposed resolutionFinally, 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:
"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 ***Lending Club provided a clear time frame for the application process and subsequently did not meet its self-imposed deadlinesMy "anticipation" was directly correlated with the information provided by Lending Club when I started the loan applicationWhen a company says a loan will be issued by day X, I, as a ***, anticipate the company does not lie to me, that is, the loan will actually be issued by day XNot only did Lending Club break their promise by not issuing the loan by Aug 1, but also did not communicate with me until Aug To reiterate, the loan could have been issued even earlier than Aug because it was fully funded on Jul
Evidence confirming the above has already been presentedBecause Lending Club does not accept any responsibility but rather wrongly analyzes my "anticipations", I cannot accept their apology
"Lending Club requested documents from XXXXXX during the application process."
Lending Club requested documents only twice: On Jul 24, (via an automated email when I applied for the loan) and on Aug 11, (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 days from Jul to Aug with no real communication, no update on the loan status, no issued loan, no requests for new documents, absolutely nothing
"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 statementLending Club did not make any attempt to contact me from Jul 24, to Aug 11, in regard to the documents I submitted on Jul 24, All emails I received during that period were automated emails mainly triggered by my ~attempts to contact themMoreover, I did not receive a single email "explaining" what was needed during these more than days of silenceThe plural "emails" that Lending Club uses here does not correspond to factual reality
"Prior to receiving all of the required documentation, Lending Club received communication from XXXXX indicating he no longer wished to proceed with the loanAs a result of this communication, Lending Club withdrew XXXXXX's application."
Another statement showing total lack of respect for the ***Instead of accepting responsibility for its own mistakes, Lending Club shifts the blame to the ***, againWhat is even worse is the fact that these events did not occur
First, I never indicated I wanted to not proceed with the loanI have never made such a statement
Second, I sent them an email on Aug to inquire about my loan and let them know that after days of silence they could not continue wasting my timeI told them that I wanted them to get back to me by 5pm PST on Aug 11th so I knew what to doApparently that email finally triggered a response and they emailed me back at 11:42am on Aug 11, asking, in a somewhat rude way, for additional documentation
Third, I'll repeat that the first real communication from them after Jul 24, occurred exactly at 11:42am on Aug 11,
Forth, Lending Club withdrew my application at 4:57pm on the same day Aug 11, 2015, which was about hours after their first email communication requesting other documentsI saw both emails later that day after my application had already been withdrawn without any explanation
Lending Club acted extremely unprofessionallyLending Club seems to manipulate the facts to avoid responsibilityLending Club's statement implies that I communicated with them in between 11:42am and 4:57pm on Aug 11, and explicitly indicated I wanted to withdraw my applicationThis is 100% untrueI'd be happy to see any evidence of such communication, as their statement suggests
"We are unable to reinstate XXXXXX's loan application."
Lending Club does not provide an explanation as to why they are unable to do thisI 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
"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 USAI don't see any personal attention here or an attempt for solving my concrete issue
"To the extent that XXXX has further questions, please have him contact Lending Club directly by email at ***@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 ~times over more than daysI do not find this useful or professional
Finally, Lending Club forgets or ignores the fact that I'm currently a *** of theirs with my second loan with themI have a history of 100% on-time paymentsI'll repay this second loan within less than 3-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 *** 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, 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 *** ***'s Revdex.com (Revdex.com) complaint
We appreciate Mr***'s feedback and acknowledge the points he brings up in his responseWe're sorry we didn't meet his expectations and we'll use his feedback to improve our ***It is clear Mr*** 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*** via phone on 9/30/upon receipt of his requestLending Club's records indicate that Mr*** re-applied for a loan through Lending Club on 10/2/
To the extent that Mr*** has further questions, please have him contact Lending Club directly by email at ***@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 ClubI've lost more than months doing thatTherefore, 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 different people over the phone and N people over email from Sep 30, to Oct 9, My last conversation with them was at around 2:48pm PST on Oct 9, and lasted minutes
History line:
Sep 30, 2015: Lending Club reassured me I'd get the original loan of $35,they offered on Jul 24, and they COULD waive the loan origination feeThey 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-appliedThey did notRegardless, I gave them the benefit of the doubt and submitted a new application
Oct 2, 2015: New application was submittedTo my huge disappointment, I got an offer in full discrepancy in terms of amount/rates/etc from the one from Jul 24, I expected a result similar to the one from Jul 24, - that's what they promisedInstead, I was offered a ripoff:
a) $15,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 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 emailThe agent promised if I were to proceed with my application, they would waive the origination fee and somehow honor the original interest rateHowever, she did not say they could honor the original loan amount of $35,and did not provide a satisfactory explanation as to why I was being offered only $20,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 rateThe agent promised she would do it once she got in the complete loan application with all the detailsI did that shortly after we completed our phone conversation
Oct 9, 2015: I never received the promised follemail with a written explanation of the logistics of the Lending Club's offerIn the meantime, my loan got fully funded (within less than hours after submission) with the message of "Your money is almost in your hands." This was just the N-th lie coming from Lending ClubI received a phone call from another agent who asked me why I did not have my current sources of income on my Tax FormI told him because I no longer worked what I used to work in He told me that they could not verify my income because I did not have a Tax return filedI explained it was Oct and there was not way for me to have filed my tax forms and I insisted they could verify my income by requesting other documents such as pay statements, etcHe explained that they could only use tax returns for income verification purposes and hence, they were denying my loan applicationI was shockedI explained that they could not require me to present a Tax Return that was physically, legally and factually impossible to obtain during that time of the yearI insisted again on other means of income verificationHe continued with his claims that they could verify my income ONLY if they received my Tax ReturnIt was clear they did NOT WANT to find another way to verify my incomeI also spoke with the supervisor - the same lady I talked to on Oct 8, - but she was also reluctant to assist in verifying my income by other meansNo 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 Tax Return ONLY, but refused because they claimed I had informed them in my application I'd switched jobs in Alternatively, they could have fully ignored my 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 Tax Return for such verification purposes, which was an impossible requirement from their side bearing in mind we were in the middle of Oct
Looking at another Revdex.com claim (05/11/Problems with Product / ***), one can see that a somewhat similar situation was resolved by Lending Club by:
"Mr*** was able to PROVIDE FURTHER DOCUMENTATION TO SUPPORT THE INCOME stated on his applicationDue to this new information, Lending Club was able to APPROVE this application."
In my case, Lending Club refused to accept further documentation supporting my incomeTherefore, I can clearly say that Lending Club discriminated against me
As final a note, my prior history with Lending Club had been:
May 2012: approved loan of $12,000, monthsStatus: Paid, Closed Feb 2013, Never late
Jan 2013: approved loan of $16,000, monthsStatus: Open, Never lateTo pay off within months, Jan
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,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 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 *** retention and satisfaction is no longer a priority

Initial Business Response /* (1000, 5, 2015/08/21) */
Thank you for giving Lending Club the opportunity to respond to *** ***'s 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 offersLending 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 OffersAdditionally, the solicitation includes a mailing address and email for consumers to specifically opt-out of communications from Lending Club
Agencies do require the consumer to provide their social security number in order to process the consumer's opt-out requestLending Club, however, only requires enough information to properly identify the mailing address, e-mail address, or telephone number the consumer wishes to opt-out
To comply with Ms***'s request, Lending Club has removed her name and address from its mailing listPlease note that Ms*** may continue to receive Firm Offers from other companies unless she contacts the consumer reporting agencies directly
We thank you again for the opportunity to respond to this complaint brought to your attention by Ms***If she has any further questions or concerns, please have her contact Lending Club directly by email at ***@lendingclub.com or phone XXX-XXX-XXXX Mon- Sat6am - 5pm PST

Initial Business Response /* (1000, 5, 2015/09/21) */
Thank you for giving us the opportunity to respond to *** ***'s Revdex.com complaint
In general our customers tell us they're saving money with Lending Club versus their other options, but there are circumstances
where that may not be the caseRates on loans through Lending Club range from 5.99% to 32.99% Annual Percentage Rate (APR) and are set for each individual *** based upon the experience of facilitating billions of dollars in consumer loans through the Lending Club platform
All borrowers pay an origination fee between 1.11% and 5.00% of the loan amount, depending on the loan grade (A1-G5), which is based on the credit ratingThis can be found in the Rates & Fees section on our websiteThe origination fee is deducted from the loan proceeds, so the loan proceeds received will be less than the full amount of the issued loan
The origination fee is included in the APR calculation and was disclosed in the Truth in Lending disclosure (TIL)The TIL is Step of the online application and it specifies important terms of your loanLending Club requires that applicants acknowledge the TIL, and other important loan documentation, by electronically accepting the agreements before submitting an applicationIf an applicant does not electronically agree to the terms outlined in the TIL, the application will not move forward and the loan will not originate
In this case, Lending Club records indicate Ms*** accepted the TIL on 8/12/Ms***'s specific loan documents and agreements are available for review under the Loan Documents tab in her Lending Club AccountIf Ms*** would like to like to review information about rates and fees more generally, she can visit http://www.lendingclub.com/public/borrower-rates-and-fees.action
To the extent that Ms*** has further questions, please have her contact Lending Club directly by email at ***@lendingclub.com or phone XXX-XXX-XXXX Mon-Sat 6am-5pm PST

Initial Business Response /* (1000, 5, 2014/12/11) */
Revdex.com Complaint Activity Report Case XXXXXXXX
Borrower Name: *** ***
Case Opened: 12/1/
Consumer Complaint:
Lending Club did not approve consumer's loan
Consumer's Desired Resolution:
Approve loan
application
Thank you for giving Lending Club the opportunity to respond to *** ***'s Revdex.com complaint
Lending Club has strong identity verification and authentication mechanisms to ensure that an application is valid and to avoid the risk of identity theftOur application process is completed online; therefore, we often verify the applicant's identity via a phone conversation during which we ask several personal questions that only the applicant would knowLending Club reached out to Mr*** to complete this identity verification multiple times, but was unable to make contact
Mr*** contacted Lending Club via email on 12/5/and said he was no longer interested in the loan and did not want to be contacted any furtherLending Club responded to this request by withdrawing the loan applicationAdditionally, Lending Club has taken the necessary steps to ensure that Mr*** will no longer receive email or mail solicitations from our companyWe have removed his name and address from our marketing database
We thank you for the opportunity to respond to this complaint brought to our attention by Mr*** Please let us know if there are any further questions on this matterMr*** is welcome to contact Lending Club Member Support directly via email ***@lendingclub.com or phone XXX-XXX-XXXX Mon-Sat6am-5pm PST
Initial Consumer Rebuttal /* (2000, 7, 2014/12/15) */
(The consumer indicated he/she ACCEPTED the response from the business.)

Buyer beware, Lending Club will draft your bank accounts before due dates and try to make excuses why did soThey also refused to give me a physical address for sign/receipt mail proving they are afraid of being served as well as not allowing a client to prove in writing for legal reasons any disputed issue on an accountThey also refuse to give anything on a contract on hard paperThese are all fradukent practicesThey hire college age hourly phone bank people who have been told to try to intimidate and bully any client who asks for managers or COO if the company as wellAgain buyers beware deal with reputable companies that have a physical office you can go to carry on businessIf you incur any of these problem I would suggest pulling your loan.*** ***

Initial Business Response /* (1000, 5, 2015/01/23) */
Thank you for giving Lending Club the opportunity to respond to *** ***'s Revdex.com (Revdex.com) complaint
Ms*** describes a situation in which she was unable to log into her Lending Club account to complete certain
verifications required for completion of her 12/11/loan applicationThis was due to a technical system issueThe system error necessitated a new application from Ms*** and, unfortunately, the rates and terms available for the new loan were different from the original loan terms
We understand Ms***'s frustration and we sincerely apologize for the confusionLending Club is aware of the technical issue and is taking steps to resolve it
Since the time of her Revdex.com complaint filing, Lending Club has contacted Ms*** directly to discuss her accountWe offered a remedy that was agreeable to Ms***, and we look forward to her continued membership with Lending Club
Please let us know if there are any further questions on this matter*** *** is welcome to contact Lending Club Member Support directly via email at ***@lendingclub.com or toll free at XXX-XXX-XXXX between 6:a.m- 5:p.mPacific Time, Monday through Saturday

Initial Business Response /* (1000, 5, 2015/12/03) */
Thank you for giving us the opportunity to respond to *** ***'s Revdex.com complaintWe understand Mr*** is disappointed, and we would like to clarify the pre-approval process
Lending Club uses 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 offersAt the time of loan application, Lending Club asks the applicant for other important information, such as income and employment statusBecause several weeks can pass *** the pre-screening process and the actual application, we may also request updated information from credit bureaus
All of the information is used to determine if an applicant qualifies for a loan offer at that timeCommon reasons for being declined for a loan after receiving a pre-approved offer are that an applicant's current outstanding debt is too high relative to his/her income or that changes have occurred in the applicant's credit report since pre-screening
Mr*** can view the specific reasons why his loan application was declined his adverse action notice which can be accessed by logging into his Lending Club Account SummaryPlease note that the pre-screening process and loan application do not affect an applicant's credit score, because neither action is reported to credit bureaus as a hard credit inquiryMr*** is eligible to apply again for a loan via Lending Club days after the date of his last application
Loans originated through the Lending Club platform are underwritten and made by WebBank, Salt Lake City, UT, member FDICLending Club delivered the adverse action letter to Mr*** on behalf of WebBank
To ensure Mr*** does not receive any future unwanted marketing from Lending Club, we have complied with his request and removed his contact information from our email and mail marketing listsIf there are further questions regarding this matter, please have Mr*** contact Lending Club directly by email at ***@lendingclub.com or phone at XXX-XXX-XXXX Mon-Sat 6am-5pm PST

Thank you for giving LendingClub the opportunity to respond to *** ***’s Revdex.com (Revdex.com) complaint.
LendingClub sent an update to the credit bureaus on 8/18/confirming that accurate information was reportedIf *** *** feels the information we are reporting is inaccurate, please have him provide the specific information he is disputing and any supporting documentation to substantiate the basis of the disputeAdditionally, he may contact the credit bureaus directly
It is LendingClub’s policy to report all account experiences to one or more of the major credit reporting agenciesLendingClub reports both positive and negative payment histories. Late payments, missed payments, or other defaults may be reflected in a borrower’s credit reportTo 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 customersWe’re sorry we didn’t meet *** ***’s expectations and appreciate his feedback
We thank you again for the opportunity to respond to this complaint brought to your attention by *** ***If *** *** has further questions, please have him contact LendingClub directly by email at *** or phone at *** Mon-Fri 6am-5pm Pacific Time and Sat 8am-5pm Pacific Standard Time

Thank you for giving us the opportunity to respond *** *** Revdex.com complaint
LendingClub appreciates the circumstances of Mr***s financial situationWhen Mr*** contacted LendingClub, we offered payment options within our guidelines; however, we are unable to
provide loan payment modifications or deferments
The entire monthly payment amount is due each month and any portion not paid becomes past due, which may lead to a loan being turned over to a professional collections agency in accordance with our company policy. Thereafter, the loan may be charged off if it becomes days past dueLendingClub records indicate Mr***s loan was charged off on 1/31/2018.
It is LendingClub’s policy to report all account experiences to one or more of the major credit reporting agenciesLendingClub reports both positive and negative payment historiesLate payments, missed payments, or other defaults may be reflected in a borrower’s credit reportTo 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 customersWe’re sorry we didn’t meet Mr***s expectations and appreciate his feedback.
We thank you again for the opportunity to respond to this complaint brought to your attention by Mr***If Mr*** has further questions, please have him contact LendingClub directly by email at *** or phone at ***, Mon-Fri 6am-5pm Pacific Time and Sat 8am-12pm Pacific Time

Thank you for giving us the opportunity to respond to *** ***’s Revdex.com complaint.
We understand *** is disappointed, and we would like to clarify the pre-approval processLoans originated through the LendingClub platform are underwritten and made by ***,
member ***LendingClub uses information provided by the credit bureaus, including credit score, outstanding debt, payment history and recent credit activity, to identify potential bor***rs and send pre-approved loan offers based on those criteriaWe may also request additional information, such as income and employment status. LendingClub records indicate Mrs*** applied for a loan on 6/21/As part of the application process, LendingClub may perform income verification to validate the income stated on the loan applicationLendingClub requested documents from *** for this purpose If the documentation does not match the application, the loan can be declined
LendingClub delivered an adverse action letter to *** on behalf of *** on 6/30/The specific reasons why ***’s loan application was declined are provided in the adverse action notice, which can be viewed by logging into her Account Summary. Please note that the pre-screening process and loan application do not affect an applicant’s credit score, because neither action is reported to credit bureaus as a hard credit inquiry. We thank you again for the opportunity to respond to this complaint brought to your attention by ***To the extent that *** has further questions, please have him contact LendingClub directly by email at *** or phone at ***, Mon-Fri 6am-5pm PST and Sat 8am-5pm PST

I invested money in an account or more years ago! I went to them for a loan to pay off my credit cards before we retire I'm disabled totally, but am financially fine, I requested a 25,credit card consolidation loan My credit is Excellent and a agency they used, I never heard of and when I went to click their link the domain is up for sale???? How can the reject a loan if you don't use a legitimate reporting agency? My score on Equafax and trans-union is excellent, have never missed a payment in years, So it took them seconds to deny me credit!! So I have money in my account according to their site of $107.32, I tried to transfer the money to my checking account and they said I didn't have enough, so I tried $100, same thing came up You can't get your money out? Once they have it, it seems they want to keep it
I would like a refund of the money in my account $and they should be investigated for using reporting agencies that don't exist? Iv'e recommended this investment to several people and it was almost impossible for them to receive their monies,

Initial Business Response /* (1000, 5, 2015/04/06) */
Thank you for giving Lending Club the opportunity to respond to *** ***'s Revdex.com (Revdex.com) complaint
Mr*** informed Lending Club of his situation in his previous Revdex.com complaint dated 03/20/2015, case number
XXXXXXXXLending Club determined that Mr*** was contacted by fraudsters impersonating Lending ClubThe fees that Mr*** paid were not to Lending Club but rather the fraudstersThis type of consumer fraud is known as an Advanced Fee Scam
As referenced in Lending Club's response to Revdex.com case number XXXXXXXX dated 03/20/2015, the Lending Club Fraud Department spoke with Mr*** regarding this matterWe informed him that he is a victim of an advanced fee scamWe also provided Mr*** with recommendations on what steps he can take to report this scam
We understand the circumstances of Mr***'s situationHowever, we are not able to reimburse Mr*** for his losses because he is not a consumer who has engaged in any financial transactions with Lending ClubAt Lending Club, we pride ourselves on providing a safe, transparent online lending experienceTo be clear, Lending Club will never ask a consumer to provide payment in advance for a loan through Lending Club
To the extent that Mr*** has further questions, please have him contact Lending Club directly by email at ***@lendingclub.com or phone XXX-XXX-XXXX Mon-Sat 6am-5pm PST

Initial Business Response /* (1000, 5, 2015/10/26) */
Thank you for giving Lending Club the opportunity to respond to *** ***'s Revdex.com (Revdex.com) complaint on behalf of the consumer *** ***We understand she is disappointed with the application process and concerned about
her personal information, so we'd like to explain
Lending Club uses 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 offersAs part of the application process, Lending Club may perform income verification to validate the income stated on the loan applicationLending Club requested documentation from the consumer to verify her stated personal annual incomeDocumentation was not received and, therefore, could not be verified
Loans originated through the Lending Club platform are underwritten and made by WebBank, Salt Lake City, UT, member FDICLending Club provided an adverse action notification to Ms*** describing the credit decision on behalf of WebBankShe can view the adverse action letter by logging into her Lending Club account
To comply with Ms***'s request, Lending Club has removed her name, address, and email from our marketing listTo the extent that Ms*** has previous applications or loans, Lending Club is required to keep records in accordance with the requirements of both federal and state lawWe are unable to remove such information from our records database until such time that the required record retention period expiresThis information can be viewed in our Privacy Policy on our website
Please note that loan applications through Lending Club do not affect applicant credit scores, because it is not reported to credit bureaus as a hard credit inquiryMs*** may reapply for a loan through Lending Club in the future
To the extent that Mr*** or Ms*** have further questions, please have them contact Lending Club directly by email at ***@lendingclub.com or phone XXX-XXX-XXXX Mon-Sat 6am-5pm PST
Initial Consumer Rebuttal /* (3000, 7, 2015/11/08) */
(The consumer indicated he/she DID NOT accept the response from the business.)
It is fine that the Lending Club sends out "you are pre-approved" mailersBut they need to specify with some sort of notation as they do with their interest rate by putting an asterisk besides the the percentage rate that they print on their same mailerThey do not indicate that with the "you are pre-approved" statementMy wife could not verify her income as we later went through the application and if we knew that from the beginning to verify income then the application would never have been started from the beginning and give out her personal informationTo us this is misleading and it needs to be change in the printing of their mailer so other people are not misled or misguided and also give out their personal informationThis is not right
Final Business Response /* (4000, 9, 2015/11/23) */
Thank you for giving Lending Club the opportunity to respond to *** ***'s Revdex.com (Revdex.com) complaint on behalf of the consumer *** ***
Lending Club strives to provide the very best *** to all of our customersWe're sorry we didn't meet Mrand Mrs***'s expectations and appreciate their feedbackWe'll use their feedback to improve our ***, and we hope that we can regain their confidence in the future
If there are further questions regarding this matter, please have Mr*** or Ms*** contact Lending Club directly by email at ***@lendingclub.com or phone at XXX-XXX-XXXX Mon-Sat 6am-5pm PST
Final Consumer Response /* (4200, 11, 2015/12/01) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I would like to add that the Lending Club previously stated that they look at the client's income to verify the "possible" loan, which is fine on their part, but this is NOT PRE-APPROVEDTheir advertisement was and is misleading They should of had some sort of notation by the "pre-approved" statement as they do for their loan percentage rate!!! I only hope they can "improve our ***" statementIf they can guarantee to this significant change in their advertisement then I can be satisfied and for all their future customers!

Initial Business Response /* (1000, 5, 2015/11/19) */
Thank you for giving Lending Club the opportunity to respond to *** ***' 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 offersLending 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 OffersAdditionally, the solicitation includes a mailing address and email for consumers to specifically opt-out of communications from Lending Club
Agencies do require the consumer to provide their social security number in order to process the consumer's opt-out requestLending Club, however, only requires enough information to properly identify the mailing address, e-mail address, or telephone number the consumer wishes to opt-out
To comply with Mr***'s request, Lending Club has removed his name and address from its mailing listPlease note that Mr*** may continue to receive Firm Offers from other companies unless he contacts the consumer reporting agencies directly
We thank you again for the opportunity to respond to this complaint brought to your attention by Mr***If he has any further questions or concerns, please have him contact Lending Club directly by email at ***@lendingclub.com or phone XXX-XXX-XXXX Mon- Sat6am - 5pm PST