Consumer Catch-up: LendingClub lawsuit, new cars getting costlier, pay for a better license photo

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Prepare for sticker shock if you want to buy a new car, plus would you be willing to pay a few dollars for a better drivers license photo? Here's what you need to know for Wednesday, April 25, 2018. (Shutterstock)

FTC files lawsuit against LendingClub

The Federal Trade Commission has sued San Francisco-based LendingClub.

The FTC is accusing the online lender of deceiving clients with hidden fees, withdrawing double payments from client accounts and continuing to charge borrowers even after they paid off loans.

LendingClub has not commented on the lawsuit.

New car costs rising

Getting ready to buy a new car? Prepare yourself for sticker shock.

Rising auto prices, higher interest rates, and longer loans are all adding to the cost of buying a new car.

Buyers financing their purchase should expect to pay about $6,500 more for the vehicle than they would have five years ago.

Edmunds.com says the average price paid for a new car topped $34,600 last month, up more than $3,000 five years ago.

Add in higher interest rates, now hovering at 5.7 percent, and you get the total picture.

Bill to pay for license photos moves forward

Would you be willing to pay more to get a better driver's license photo?

California drivers may soon get that chance.

A bill allowing drivers to take up to three photos at the DMV, for an added fee, has cleared the Senate Transportation Committee.

Under the measure, drivers would also have the option of having their photos taken at a pre-approved center and bringing them to the DMV.

Revenue from the photos would go toward re-establishing driver's education programs at public schools.

Click here for a look at more stories by Michael Finney and 7 On Your Side.

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