We have this covered recently in a post about the Club ready, ready in hand to hand, and how they are two great ways to have fun and earn money at the same time. Unfortunately, a recent change to ready P2P scene means that investors may not get as much information of borrowers as they did previously.
Under the new rules that start…uh, a few days ago LendingClub now allow its users to ask questions which it has already approved in advance. On his blog (it reminds me of problem… of the Netflix blog) the company says:
"Starting tomorrow, investors will be able to ask questions from a predefined set that was created based on the newspapers most frequently asked in the past 2 years and reviewed and edited by our team of compliance." "As an investor, feel free to submit additional questions that you would like to see added to the list of feedback@lendingclub.com."
Before this block of text is a blurb on privacy, but what you really need to know the Club loan decision and how it affects investors are right it - ready Club does not want you to take informed decisions about your money.
Although there are few things as important as the safety, security and personal identity protection - especially when it comes to things like borrow money - that there should be concern about the quality of investment that is located on the site in the future.
You see, P2P lending was built on the idea that he would not be like a bank. Isntead, investors would be allowed to correspond directly to the borrowers and borrowers would be able to make their application why they should have access to money from investors. It was a good idea. some borrowers posted until their monthly budget, others had pictures of marriage or other personal elements that give the credibility of the list of exhibits - and investors liked it!
But now that investors may only apply to that LendingClub (in fact investors can only ask that Subscriber, WebBank) wants their ask…uh? This is a pity that ready Club had to change the rules to make it more difficult for lenders select potential borrowers. I'm starting to think they start you a mass exodus quickly enough.
Attention all scammers! Attention! Club ready now you will display an announcement asking to borrow money and will limit the ability of lenders to test your legitimacy. How is - for awareness of these rules have created?
Invest with questions of the borrower of loan club, new rules, p2p loans
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