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FTC, LendingClub Should Settle False Ad Row, Judge Says

Law360, San Francisco (September 13, 2018, 8:24 PM EDT) -- A California federal judge Thursday seemed unconvinced by LendingClub’s bid to dismiss a Federal Trade Commission suit alleging it falsely promised consumers their loans come with “no hidden fees,” but when she learned the online lender had stopped making that promise, she encouraged the parties to settle and avoid “an enormous waste of court resources.”

U.S. Magistrate Judge Jacqueline Scott Corley said the hearing in San Francisco was the first time she’d heard that LendingClub has pulled its “no hidden fee” marketing from its website and...
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Case Information

Case Title

Federal Trade Commission v. Lending Club Corporation


Case Number

3:18-cv-02454

Court

California Northern

Nature of Suit

Other Statutory Actions

Judge

Jacqueline Scott Corley

Date Filed

April 25, 2018

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Companies

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