Bulk Of FTC's False Ad Suit Against LendingClub Kept Alive

Law360 (June 1, 2020, 8:18 PM EDT) -- A California federal judge gave both the Federal Trade Commission and LendingClub partial quick wins Monday in the regulator's false advertising suit against the loan servicer, but allowed the bulk of the suit to move forward after finding that several questions of fact and law remained.

U.S. Magistrate Judge Jacqueline Scott Corley addressed competing summary judgment and other motions in the FTC's 2018 suit, which accuses LendingClub of luring potential borrowers with false promises of "no hidden fees" and of telling customers they had been approved for a loan only to reject some applications after a back-end credit check.

In denying the...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!