Prosper Marketplace, Inc. complaints

April 29, 2024 Business Consumer Alliance Complaint Department 315 North La Cadena Drive P.O. Box 970 Colton, CA 92324-0814 Re: Mariah To Whom It May Concern: Prosper Marketplace, Inc. ("Prosper") is in receipt of a complaint from the Business Consumer Alliance dated April 12, 2024, on behalf of Mariah ("Mariah"). All personal loans offered through the Prosper platform are originated and issued by WebBank. Mariah asserts that Prosper denied their loan application after providing their private information. Prosper's investigation confirmed that Mariah's application was reviewed and ultimately cancelled due to Prosper's internal risk fraud strategy on April 11, 2024. That same day, Prosper sent an Adverse Action Notice to Mariah's email advising the reasons for cancellation, "Your loan request has been cancelled for the following reason(s): • "Unable to verify identity, employment, credit history, income or other information on the application" This information may also be located within Mariah's MyAccount page online for their review. Addditionally, as part of the cancellation process, a request to remove the hard inquiry by updating to a soft inquiry was submitted to the credit bureaus on April 11, 2024. Please allow 30-60 days for the update to reflect on Mariah's credit report. Prosper respectfully declines Mariah's request to approve their loan application. During the application process, Mariah provided their banking credentials, which are necessary for establishing autopay, should the listing originate as a loan. Prosper takes the identity and security of its customers and their information very seriously. Pursuant to Prosper's internal Record Retention Policy, "the criteria used to select the consumer to receive the offer, all criteria bearing on credit worthiness that are the basis for determining whether or not to extend credit pursuant to the offer, and any requirement for the furnishing of collateral as a condition of the extension of credit must be retained for at least six years". Prosper regrets that Mariah was not satisfied with their application experience with Prosper. Prosper appreciates the opportunity to respond and hopes this clarifies and resolves the issue. Sincerely, ¬¬ Liam Lopez Compliance Complaints Specialist

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To Whom It May Concern: Prosper Marketplace, Inc. (“Prosper”) is in receipt of a complaint from the Business Consumer Alliance dated March 14th, 2024, on behalf of Laura Robertson (“Laura”). All personal loans offered through the Prosper platform are originated and issued by WebBank. Laura asserts that Prosper continues to contact them by phone despite their seven previous requests for the calls to cease and despite being told by Prosper that the calls would cease. On February 12, 2024, Prosper began making collection calls to Laura’s phone number at (248) 796-1143. However, these calls were not meant for Laura, but for a Prosper customer with invalid contact information on file. Laura’s phone number was obtained by Prosper and linked to this customer’s account via skip tracing. Skip tracing is permitted and appropriate for accounts that have no working or valid phone numbers. Prosper’s investigation found that between February 12, 2024 and March 14, 2024, Prosper called Laura a total of 87 times. During this time frame, Prosper did not exceed 4 calls per day. On February 29, 2024, Laura contacted Prosper by phone and stated that they were not interested in applying for a loan through the Prosper program and to stop calling. The agent confirmed Laura’s phone number, completed an opt out request on their behalf to prevent further calls and advised them to allow two days for the calls to cease. Prosper’s investigation confirmed that the agent did not restrict Laura’s phone number at that time. This matter has been handled internally and the agent has received coaching. On March 6, 2024, Laura contacted Prosper by phone to report they continue to receive calls despite being told by a previous agent that the calls would cease. The agent advised Laura that they do not have an account on file. In order to stop the Prosper calls and complete an opt out request, the agent asked Laura for a valid email address to complete their account profile. However, Laura refused to provide this information, requested that Prosper stop calling them then ended the call. On March 8, 2024, Laura contacted Prosper by phone on two separate occasions. During the first call, Laura advised the agent that they were not interested in applying for a loan through the Prosper program. Laura also threatened to report Prosper to the Better Business Bureau if the calls continued. The agent attempted to complete an opt-out in the same manner as the previous agent from the March 6, 2024 call. As a result, the agent escalated Laura’s request for review and follow up. An agent contacted Laura that same day pursuant to the escalation request and during the call Laura did not cooperate with the agent’s attempt to complete an opt out on their behalf so that the calls would stop. Laura threatened to file a complaint with the Better Business Bureau then ended the call. On March 11, 2024, Laura contacted Prosper by phone and requested a supervisor. Similar to the three previous agents before them, this agent attempted to obtain Laura’s email to complete an opt-out request. Laura ended this call with the agent as well. In response to this complaint, Prosper confirmed that Laura made several requests for Prosper to stop calling them between February 29, 2024 and March 11, 2024. Throughout all of their phone call interactions with Prosper, Laura seems to believe that the calls from Prosper were sales calls and does not seem to be aware that the phone calls from Prosper were for collections purposes. As Laura refused to provide further information to verify the account and requested the calls to cease, the agents Laura spoke with were unable to disclose any information regarding the account. On March 14, 2024, Prosper reviewed the escalated request originally submitted by the agent Laura spoke with on March 8, 2024 and confirmed that Laura’s phone number of (248) 796-1143 was obtained via skip tracing methods by Prosper’s collections department in an attempt to get in contact with the true borrower of an account that had gone past due. As stated above, the agent that spoke with Laura on February 29, 2024 did not follow the proper do not call procedures, which resulted in further outbound call efforts to Laura’s phone number. This matter has been handled internally, and the agent has received coaching. In addition, Prosper will be sending out a communication reminder of the steps to be taken by agents when a customer is requesting to not be called if not related to marketing. Prosper apologizes for any inconvenience or dissatisfaction that Laura may have experienced. As of March 14, 2024, Laura’s phone number has been removed from Prosper’s files to ensure that no further calls will be attempted moving forward. Prosper appreciates the opportunity to respond and hopes this clarifies and resolves the issue. Sincerely, ¬¬ Liam Lopez Compliance Complaints Specialist

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