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LendingClub sued over credit report access

LendingClub Corp. is facing a putative class-action lawsuit in Nevada alleging that the company violated the Fair Credit Reporting Act and improperly accessed the plaintiff's credit report.

The lawsuit, filed in December 2017, also alleges that LendingClub improperly accessed credit reports of other similarly situated individuals. The company denied the allegations in its Form 10-K filing.

Access to consumer credit reports has been a topic of debate since Equifax Inc.'s 2017 disclosure of a massive data breach that may have impacted up to 145.5 million people in the U.S.

LendingClub recently announced that it agreed to a $125.0 million settlement of several class-action lawsuits in federal and state courts related to legacy issues first disclosed in 2016.