Consumer complaint received 2021-09-01
Company: Lending Club Corp
State: GA
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Other service problem

Complaint:
This is a complaint against LendingClub. 
Address : XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, California XXXX Customer service : XXXX ( XXXX ) XXXX Back in XXXX, I rolled over my Traditional IRA money to Lending Club - a P2P lending company for investment purpose. Later I also created a XXXX  IRA account with additional contribution. Then in XX/XX/XXXX, they discontinued their business. 

Since then, I have been contacting Lending Club, requesting to transfer my IRA money to XXXX or elsewhere. I contacted them many many times, through emails and phone calls. They have been ignoring my request for more than 6 months. They never provided me an option to transfer my money directly to XXXX. 

I even tried to initiate the transfer from XXXX side. However, because Lending club does not cooperate, such transfer can not be completed. For more than half year, they kidnapped my money and I simply could not get my money back. 

I talked to their customer service rep from XXXX to XXXX this year many times. They repeatedly create case numbers, but never get back to me trying to resolve it. 
Their strategy is completely ignoring any complaint, by pretending listening to me first and then put it behind. I believe there are a lot of other individual consumers in the same situation like me. But the problem is that we could not find each other and unite. 
Therefore I had no other choice but to contact some regulatory organization. 

On XX/XX/XXXX, Lending club responded by staing that '' We provided an opt out deadline of XX/XX/XXXX in this email communication. Due to not receiving a request to opt out of the transfer to XXXX  your investment account was moved to the new custodian '' This is a liar. They never told me I can opt out and refuse to accept XXXX. I never agreed nor authorized Lending Club to hand over my money to XXXX. 

1. I never received the notice of " opt out deadline ''. You failed to notify me my options. Without knowing such option, how can I take an action to opt out? 
2. Furthermore, since the beginning of the year, through numerous calls ( as well as emails requesting info without getting any response for more than 3 months ) I clearly asked for " what are my options '' and never got a response instructing me I could choose opting out. 
3. All I got are many emails asking me or prompting me to activate my account with XXXX. I never clicked such link to activate. 
4. By not activating my account with XXXX for so long time, it clearly indicates that I refused to be with XXXX and I made a choice of opting out. Therefore my money is still with Lending club. 
5. You can verify that as of today XX/XX/XXXX, I still have not activated my account with XXXX. 

I used their platform to invest my money because I trusted them. Now they hand over my money- without my consent- to someone who is going to rip me off and make it difficult to transfer my money. This is unacceptable and unprofessional. 

Considering all the above 5 points, I request to transfer my money directly to XXXX without going through XXXX. This is my basic and fundamental right. 

Please help me to get my money back. 

XXXX XXXX

Company response to consumer: Closed with explanation