BBB Accredited Business sinceAdditional Locations
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This company offers online financial services that brings together borrowers and investors so that both can benefit financially.
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A BBB Accredited Business since
BBB has determined that LendingClub Corporation meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.
BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.
Reason for Rating
BBB rating is based on 13 factors. Get the details about the factors considered.
Factors that raised the rating for LendingClub Corporation include:
- Length of time business has been operating
- Complaint volume filed with BBB for business of this size
- Response to 173 complaint(s) filed against business
- Resolution of complaint(s) filed against business
Customer Complaints Summary Read complaint details
|Complaint Type||Total Closed Complaints|
|Problems with Product/Service||80|
|Total Closed Complaints||173|
Customer Reviews Summary Read customer reviews
|Customer Experience||Total Customer Reviews|
|Total Customer Reviews||24|
Type of Entity
Business ManagementCustomer Service Mr. Jason Altieri, Lawyer Jerry Chou Mr. Mitchell Harad, Vice President of Marketing Mr. Andrew Jensen Mr. Colin Ray, Member Support Lead
Number of Employees
Financial Services Loans
Service AreaThis company services nationwide.
Lending Club has informed BBB that their company's name is being fraudulently used in an online loan scam.
It appears that some consumers applying for a loan at online sites other than Lending Club are subsequently being contacted by representatives claiming to be from Lending Club. Loan applicants are told their loan will be approved and the money deposited into their checking account but they first must pay what they are told is a security, insurance or other fee. They are asked that the money be put on a prepaid card such as a green dot money pack or in a MoneyGram; the amounts asked to be paid vary. In some instances, applicants are asked multiple times to provide multiple amounts for a variety of purposes but the loan proceeds are never received.
Lending Club advises consumers that all loans obtained through its platform are made without an upfront application fee and are issued by WebBank. If in doubt, go to lendingclub.com or call Lending Club directly at 1.888.596.3157. If you have had this experience you can file a complaint with the IC3 (internet crime complaint center) at www.ic3.gov. Lending Club also recommends adding a fraud alert to your credit bureau report and filing a complaint with the FTC and CFPB. Lending Club continues to work with consumers and any and all appropriate and willing law enforcement agencies to find and prosecute these criminals (FBI Complaint Id: I1309251131004212, FTC Complaint Id: 48697737). The United States Secret Service (San Francisco chapter) met with Lending Club on 11/13/13 and has launched an investigation.