Federal Trade Commission v. Lending Club Corporation

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA 6 FEDERAL TRADE COMMISSION, Case No. 18-cv-02454-JSC

Plaintiff, ORDER RE DEFENDANT'S MOTION v. TO STAY

LENDING CLUB CORPORATION, Re: Dkt. No. 311 Defendant.

Lending Club Corporation moves to stay the case pending the United States Supreme Court’s decision in the consolidated cases F.T.C. v. Credit Bureau Ctr., see 2020 WL 3865251 at *1 (U.S. July 9, 2020) (granting certiorari), and AMG Capital Mgmt., LLC v. F.T.C., 2020 WL 3865250, at *1 (U.S. July 9, 2020) (granting certiorari). (See Dkt. No. 311.) After carefully considering the parties’ written submissions, and having had the benefit of oral argument on August 20, 2020, the Court GRANTS LendingClub’s motion to stay. DISCUSSION The FTC brings this action under Section 13(b) of the FTC Act. (Dkt. No. 57 at ¶ 1.) Section 13(b) provides “[t]hat in proper cases the Commission may seek, and after proper proof, the court may issue, a permanent…