The Mesh by Lisa Gansky
Author:Lisa Gansky
Language: eng
Format: mobi, epub
Tags: Non-fiction
ISBN: 9781591843719
Publisher: Portfolio Penguin
Published: 2010-09-23T00:00:00+00:00
Prosper is now the largest such institution in the United States, but it experienced a major speed bump along the way. The Securities and Exchange Commission (SEC) made an early investigation into Prosper’s core offering to determine if the company should be required to comply with banking regulations. Prosper argued that it was a marketplace, not a bank, and should not be required to keep a certain percentage of money on hand relative to the number of loans it issues. After a year of inquiry, the SEC’s investigators agreed.
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