Lending Club Blog

Protecting Identity and Privacy

In an era of social networks and blissful sharing over open platforms like Twitter, Facebook and Yelp, we have grown accustomed to sharing more about ourselves.  At Lending Club we embrace new technologies and open communication, but also provide a financial service that calls for a higher level of privacy and identity protection.

Lending Club investors have the ability to ask questions of potential borrowers before committing investments into their loans. This ability has raised concerns in terms of protecting the privacy and identity of both borrowers and investors. These concerns led us to adjust our Q&A mechanism for the benefit of both borrowers and investors.

Starting tomorrow, investors will only be able to ask questions from a predefined set that was created based on the most frequently asked questions logs over the last 2 years and reviewed and edited by our compliance team. As an investor, feel free to submit additional questions that you would like to see added to list to feedback@lendingclub.com.
As always, your comments are welcome as we continue to make improvements to our platform.

Image courtesy of Sean MacEntee.

Thursday, April 14th, 2011 at 6:09 pm

Comments (1)

  1. Sounds like this decision caused an uproar in some parts of the P2P
    Lending community. Hopefully LC can get lots of additional screener
    questions up soon.

    May 11th, 2011 at 8:31 pm

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