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[ggmillar]

I reported the following listing as violating the BRA due to the post-secondary education prohibition:

https://www.prosper.com/invest/listing.aspx?listingID=512338

The loan has now funded 100% and is awaiting verification. We will see what Prosper does with it.....

Just some quickies from the listing:

- Requested Amount = $4,000
- HR at ~31%
- Net income = $7,000/mo
- Total expenses = $2,500/mo

Why doesn't he just use the $4,500 he has laying around left over after every single month?

This loan was created in clear violation of Prosper's BRA.

It's not the first time Prosper has been seen BRA-less.

BRA-less - Funny!

By the way, I looked into this as it's the first time I saw this thread.  With the information we have based on the loan description, this listing does not violate federal law.  Thank you for bringing it to our attention.

Glenn G. Millar
Prosper Employee 

What about the one that triad said he was a "lender" on in this post:

http://www.prospers.org/forum/prosper_borrower_prohibited_activities_question-t24644.0.html;msg438515#msg438515

Unfortunately, I can't begin to comment on the listing Triad refers to as it was more than three years ago and regulations on student loans by the Federal Govt have changed dramatically since then.  Our policies may also changed as well to coincide with changes in Federal law.  If you see a recent violation and would like to bring it to my attention, I will make sure it is taken off the site if it violates our policies.

Thank you,     

Glenn G. Millar
Prosper Employee

[Xenon481]

Thanks, Glenn.

You are much better at this PR stuff than a certain Yenta used to be.

[ggmillar]

Thanks, Glenn.

You are much better at this PR stuff than a certain Yenta used to be.

My pleasure.