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11 Dec 09

Prosper Hails House Passage of Landmark Peer-to-Peer Lending Reforms | Business Wire

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CFPA p2p lending SEC prosper

Consumer Financial Protection Agency

21 Oct 09

Finextra: Financial start-ups form lobby group

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p2p_lending prosper

The group is asking Congress and the administration to consider several moves, including the adoption of legislation classifying person-to-person lending as a consumer banking service, not a securities offering.

23 Sep 09

Prosper.com Class Action Suit Monitor

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prosper class_action

05 Dec 08

Prosper Marketplace issue their revised S-1/A 5th Dec 2008

We will issue the Notes in series. Each series will correspond to a single consumer loan originated through our person-to-person online credit auction platform or a previously-funded single consumer loan offered for sale on our platform by one of our financial institution members. In this prospectus, we refer to these consumer loans generally as “borrower loans” and we refer to previously-funded consumer loans listed on our platform by one of our financial institution members as “previously-funded loans.” We refer to the borrower loan upon which a series of Notes is dependent for payment as the “corresponding borrower loan” for the series.

www.sec.gov/...a08-29602_1s1a.htm - Preview

prosper S-1

01 Dec 08

Payments Industry Regulatory Compliance: Prosper SEC Cease and Desist Order - What Were They Thinking?

Sale of a security that has not been registered under Section 5 of the Securities Act of 1933 gives rise to a private right of action under Section 12(a)1 of that Act. The remedy that can be enforced with this private right of action is recission of the sale of the unregistered security. In practical terms this means that investors in unregistered Prosper notes that were ultimately uncollectible can get their money back. The Prosper site states that approximately $178,000,000 in loans have been funded, and although the portion of that amount that is uncollectible is not disclosed, there does seem to be disaffection in the Prosper community with Prosper's collection performance. See p2pla.org/docs/4187_001.pdf for a demand letter from the attorney for a group of Prosper investor lenders.

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prosper recission desist

25 Nov 08

Prosper Marketplace, Inc. – www.BackgroundNow.com Blog

November 24, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 8A of the Securities Act of 1933, Making Findings and Imposing a Cease and Desist Order (Order) against Prosper Marketplace, Inc. (Prosper).

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prosper SEC social lending

25 Aug 08