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Author Topic: Accrued interest no longer reported in Account Total

f
  • Posts: 13
Accrued interest no longer reported in Account Total
OP: October 08, 2013, 11:00:00 PM
I like it better this way, now it matches the monthly statements.  It never made sense to me to include it in the first place.
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T
  • Posts: 25
Accrued interest no longer reported in Account Total
#1: October 08, 2013, 11:00:00 PM
It is still the same for my accounts
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y
  • Posts: 182
Accrued interest no longer reported in Account Total
#2: October 08, 2013, 11:00:00 PM
You mean on the Account Summary?

I'm not seeing that, either.
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T
  • Posts: 6588
Accrued interest no longer reported in Account Total
#3: October 08, 2013, 11:00:00 PM
Just checked my Account Summary page again and Accrued Interest is gone.

Not just gone from Account Total but taken off the page entirely!
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c
  • Posts: 227
Accrued interest no longer reported in Account Total
#4: October 08, 2013, 11:00:00 PM
I wonder what brought this about?  Excellent.  It's been a few weeks since we had a major event or scandal around here.

For what it's worth, I'm still able to see accrued interest by going to the More Details page.
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T
  • Posts: 6588
Accrued interest no longer reported in Account Total
#6: October 08, 2013, 11:00:00 PM
I think this is accounting games to boost their numbers for this quarter.  The borrower owes LC the accrued interest, but since we are essentially just placing bets on the outcome of that loan, one could argue that from their point of view the liability is not created until the bet wins (the borrower pays).
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L
  • Posts: 38
Accrued interest no longer reported in Account Total
#7: October 08, 2013, 11:00:00 PM
Wow, why don't they at least send out an email about these types of changes instead of leaving us to figure it out.  >:(   
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D
  • Posts: 30
Accrued interest no longer reported in Account Total
#10: October 09, 2013, 11:00:00 PM
Nice observation.  This is what is so great about this board, I wouldn't have noticed that change so quickly, and now that I know about it I'm happy the accrued interest figure is gone (I'm easily pleased) - that number held little to no meaning for me.  I like real time, not maybe or should-be or will-be time.  Good move, nice improvement for LC.  I give it a 9.5 on the 10 scale.
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  • ****
  • Sr. Member
  • Posts: 363
Accrued interest no longer reported in Account Total
#12: October 09, 2013, 11:00:00 PM
I have lobbied against the Accrued Interest number for a long time. I think it is confusing for many investors and also provides a mismatch at the end of the month with the statement numbers. Now, they will be in sync which is a good thing.
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N
  • Posts: 98
Accrued interest no longer reported in Account Total
#13: October 09, 2013, 11:00:00 PM
Accrued interest for each note is now being shown on the "Loan Performance" page.  Look for it right below "Credit Score Change".

https://www.lendingclub.com/foliofn/loanPerf.action?loan_id=739193&order_id=12105901&note_id=4545846
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t
  • Posts: 28
Accrued interest no longer reported in Account Total
#14: October 09, 2013, 11:00:00 PM
Indifferent about the change, but really scratching my head. Why wouldn't they send out an email about this in advance? Since they didn't, I had already sent of an email to my rep asking why my balance is screwy. I'm sure customer service is fielding extra calls/emails today.
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