LendingClub slapped with FTC lawsuit

The Federal Trade Commission (FTC) filed a lawsuit against LendingClub on Wednesday afternoon, alleging that the California-based online lender charged hidden fees and withdrew money from consumer bank accounts without authorisation.

  • By Sasha Padbidri
  • 25 Apr 2018

The lawsuit was filed in the US District Court for the Northern District of California, San Francisco Division. On Wednesday afternoon, the FTC issued a statement saying that LendingClub had been warned several times about the hidden fee charge, but had not taken any action.

“Defendant lures prospective ...

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