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Author Topic: No investing in Oregon?  (Read 7563 times)

quetranza

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No investing in Oregon?
« on: August 06, 2010, 12:38:53 pm »
As of today, prosper.com is telling me that "lenders in Oregon are not able to bid or transfer money to Prosper."  Anyone know what happened?
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xraider

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Re: No investing in Oregon?
« Reply #1 on: August 06, 2010, 01:15:11 pm »
You apparently got very lucky.
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JGuide

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Re: No investing in Oregon?
« Reply #2 on: August 06, 2010, 01:35:48 pm »
Utah as well.
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Investar

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Re: No investing in Oregon?
« Reply #3 on: August 06, 2010, 02:48:40 pm »
I also found Montana missing from the list of eligible states. As JGuide says, Utah lenders were shut out last week so Prosper went from 27 to 24 lending approved states within a matter of days. When I went looking for a pattern the only obvious similarity I could find -- Prosper holds or held direct State Consumer Lending licenses in all three of those states. No idea if that has anything to do with it or not. Things like date of first approval, applicable lender restrictions and/or NASAA sanction activity didn't really match up in any meaningful way. 
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Urbi_et_Orbi

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Re: No investing in Oregon?
« Reply #4 on: August 06, 2010, 03:38:23 pm »
Considering Web Bank is Utah-based, is the Utah-stop a bit surprising?

Btw, I can't see that Prosper has issued any official communication on this very important development.

ETA: service interruption in at least three states...Oregon, Montana and Utah (+others?) is perhaps lobby-worthy?
« Last Edit: August 06, 2010, 03:47:37 pm by Urbi_et_Orbi »
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Mothandrust: "Why's he off the ballot in Colorado but it's OK for the other 48 states and Hawaii to vote for him"
https://www.prospers.org/forum/index.php?topic=37264.msg807090#msg807090

pioneer11

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Re: No investing in Oregon?
« Reply #5 on: August 06, 2010, 03:50:50 pm »
Yes, lobby.
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Mtnchick

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Re: No investing in Oregon?
« Reply #6 on: August 06, 2010, 04:07:42 pm »
Agreed with the lobby - this IS interesting. I don't know enough to speculate why they lost these. So instead of growing, they're actually shrinking where they are allowed? I guess their high paid lobbyist is another waste of Prosper money.
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God-Father

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Re: No investing in Oregon?
« Reply #7 on: August 06, 2010, 07:55:13 pm »
Does anyone know if LC was affected?
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TJGbank

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Re: No investing in Oregon?
« Reply #8 on: August 06, 2010, 08:39:37 pm »
,


« Last Edit: March 03, 2012, 04:37:41 pm by TJGbank »
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pioneer11

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Re: No investing in Oregon?
« Reply #9 on: August 06, 2010, 08:57:41 pm »
Quote from: TJGbank on August 06, 2010, 08:39:37 pm
poof


eta: don't always want my inputs in the lobby




Why not?
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Investar

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Re: No investing in Oregon?
« Reply #10 on: August 06, 2010, 09:09:10 pm »
Quote from: God-Father on August 06, 2010, 07:55:13 pm

Does anyone know if LC was affected?

Can't confirm it's accurate (up to date) but….

LendingClub: What are the current “State and Financial Suitability” conditions?

"Individual investors can invest in Notes if they are a resident of: California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Kentucky, Louisiana, Maine, Minnesota, Missouri, Mississippi, Montana, New Hampshire, Nevada, New York, Rhode Island, South Carolina, South Dakota, Utah, Virginia, Washington, Wisconsin, West Virginia, and Wyoming."

According to past tracking posted here LendingClub never had Oregon to start with.
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yankeefan

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Re: No investing in Oregon?
« Reply #11 on: August 09, 2010, 11:20:11 am »
From .com BLog

Quote
We have temporarily interrupted service in MT and OR due to our need to complete certain regulatory filings there. We hope to have the process completed and resume service in those states within the next few weeks.

We have also temporarily interrupted service in UT due to our need to fulfill certain regulatory requirements there. We hope to have the process completed and resume service in UT within the next few months.

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Xenon481

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Re: No investing in Oregon?
« Reply #12 on: August 09, 2010, 01:01:59 pm »
Like other things they have taken away, promised to put back, and then they are gone forever?
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Urbi_et_Orbi

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Re: No investing in Oregon?
« Reply #13 on: August 09, 2010, 01:28:37 pm »
Quote from: yankeefan on August 09, 2010, 11:20:11 am
From .com BLog

Quote
We have temporarily interrupted service in MT and OR due to our need to complete certain regulatory filings there. We hope to have the process completed and resume service in those states within the next few weeks.

We have also temporarily interrupted service in UT due to our need to fulfill certain regulatory requirements there. We hope to have the process completed and resume service in UT within the next few months.


Where exactly are you seeing this?
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Mothandrust: "Why's he off the ballot in Colorado but it's OK for the other 48 states and Hawaii to vote for him"
https://www.prospers.org/forum/index.php?topic=37264.msg807090#msg807090

yankeefan

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Re: No investing in Oregon?
« Reply #14 on: August 09, 2010, 01:40:14 pm »
The "comments' under "what's new on Prosper?" Blog entry.

This is part of the whole new transparency thing.

blog comments here
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