How is Prosper regulated?

Prosper is regulated at a few different levels of U.S. government.

At the federal level, Prosper is regulated by the Federal Trade Commission insofar as it must conform to the Truth in Lending Act, the Equal Credit Opportunity Act, and the Fair Credit Reporting Act.

At the state level, for states in which Prosper has an explicit license to lend, it is regulated by such state agencies as the Department of Banking or Department of Financial Institutions (this varies by state). For states in which Prosper does not hold a license, it is subject to limits and regulations established by the state's Attorney General's office or other agencies that regulate trade and commerce. You can see which states Prosper holds licenses in along with any special limits or regulations by state on the "States and Licenses" page.