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Author Topic: Suddenly Can't Invest from Michigan  (Read 6733 times)

Meta4

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Suddenly Can't Invest from Michigan
« on: January 15, 2014, 04:52:05 am »

My regular weekly money transfer and investment went through yesterday as scheduled.  When I log in today, I see this:



I'm not seeing any sort of explanation for this behavior anywhere on the site.  Joy.
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Xenon481

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Re: Suddenly Can't Invest from Michigan
« Reply #1 on: January 15, 2014, 04:56:57 am »

Prosper's license to sell notes to investors in Michigan was not renewed. This may or may not change any time soon.

Also of note is that Prosper is inexplicably also refusing to allow investors in Michigan to divest themselves of notes via folio.
« Last Edit: January 15, 2014, 04:59:09 am by Xenon481 »
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havastat

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Re: Suddenly Can't Invest from Michigan
« Reply #2 on: January 15, 2014, 03:42:43 pm »

Lobby
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rogerwaite

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Re: Suddenly Can't Invest from Michigan
« Reply #3 on: January 16, 2014, 06:33:58 am »

2nd.
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SLN

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Re: Suddenly Can't Invest from Michigan
« Reply #4 on: February 23, 2014, 12:24:59 pm »

Prosper's license to sell notes to investors in Michigan was not renewed. This may or may not change any time soon.

Also of note is that Prosper is inexplicably also refusing to allow investors in Michigan to divest themselves of notes via folio.

Just closing the look on this in case others stumble across this thread. Prosper is now live in Michigan again and investors are free top participate. This happens from time to time at both Prosper and Lending Club where a state delays a filing - in pretty much every case this is temporary and the matter is cleared up in days or weeks. I think it was about three weeks in this case.
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