Three months ago the Treasury Department requested information from Lending Club, this week the marketplace lender responded. The request from the Treasury was considered to be friendly and Lending Club took the opportunity to educate the department and make some recommendations. One of these recommendations. included an API from the IRS.
LendingClub LC -0.53% this morning submitted a response to the U.S. Treasury Department’s July request for public comment on how online lenders operate and for “how the financial regulatory framework should evolve to support the safe growth of this industry.” “It was a pretty friendly request and I think the choice of words used specifically in the press release showed a positive predisposition of Treasury to this space,” Lending Club CEO Renaud Laplanche tells Fortune. “They’re always looking for ways to make the economy more frictionless, and one way to do that is to make sure that the regulatory environment is appropriate.”