When Businesses Act Ethically During Disasters

Not Always About Money 

It is refreshing when businesses do the right thing for customers and their nation. LendingClub estimates about 30,000 customers are potentially affected. Of those they estimate about 7% are currently behind on payments. The impacts of Harvey will make repaying loans even more difficult for everyone, regardless if they were under previous financial hardship or not.  LendingClub is taking proactive actions to help borrowers in this time of difficulty.   

In a recent letter to investors, LendingClub outlined their plans in response to the natural disaster of hurricane Harvey.    

“Hurricane Harvey is an unprecedented tragedy and our hearts go out to those whose lives have been turned upside down. We wanted to provide you with an estimate on how many LendingClub borrowers could be impacted and let you know what we're doing to provide relief for them.”   

Relief for LendingClub Borrowers    

I am an investor in LendingClub.  I fully support and appreciate their positive response to considerations for people affected by this natural disaster. This is a great example how businesses can act to help communities and customers during a tragedy while not undermining the trust or responsibility to their investors.    

Keep up the great work and ethical practices. Let this be a template for other companies to step-up in similar ways.     

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