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Lending Club

CA 2018 Community Banks / Credit Unions
DOJ Fraud
Penalty
$2 million

Outcome

Lending Club Agrees To Pay $2 Million Penalty To Resolve Investigation Into Its Lending Practices

Details

Lending Club — DOJ Enforcement (2018)

DOJ took enforcement action against Lending Club in CA in 2018 involving fraud violations in the Community Banks / Credit Unions sector.

Penalty: $2 million

Violation types: Fraud
Entity type: Financial Institution
Penalty type: Criminal
Location: CA

Source: DOJ Press Release — Lending Club Agrees To Pay $2 Million Penalty To Resolve Investigation Into Its Lending Practices

How Crucible Prevents This

Crucible's compliance monitoring for Community Banks / Credit Unions would have detected the patterns underlying this enforcement action.

Source: DOJ Press Release — Lending Club Agrees To Pay $2 Million Penalty To Resolve Investigation Into Its Lending Practices

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