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FTC Sends Another Payment to Eligible LendingClub Borrowers Who Filed a Claim

The FTC is sending a second round of payments to eligible LendingClub borrowers who were charged hidden fees and filed a valid claim before the deadline.

The FTC sued LendingClub Corporation, and the company agreed to settle. According to the FTC's lawsuit, LendingClub falsely promised loan applicants that they would receive a specific loan amount with “no hidden fees,” when in reality the company deducted hundreds or even thousands of dollars in hidden up-front fees from the loans.

In August 2022, the FTC sent payments to eligible LendingClub borrowers who filed a valid claim with the FTC. Because money still remains in the fund, the FTC is sending additional payments totaling more than $510,000 to 16,710 people who filed a valid claim, accepted their first payment, and paid more than $844 in hidden fees. Previous distributions for this settlement have resulted in more than $17 million in refunds.

If you get a PayPal payment, please accept it within 30 days. 

If you get a check, please cash it within 90 days. 

You can find answers to common questions about refund payments on our FAQ page. If you have any other questions, please call 1-833-630-1417.