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Important Privacy Choices
Notice to California Residents
Welcome to Prosper. We believe that consumers deserve the utmost respect when it comes to the privacy of their personal information. This Privacy Policy applies to Prosper Marketplace, Inc. and its wholly owned subsidiary, Prosper Funding LLC (together, “Prosper”, “we,” “us” or “our”).
We have prepared this Privacy Policy to explain how we collect, use, protect, and disclose information and data when you use Prosper’s websites, services, and mobile applications. This Privacy Policy also explains your choices for managing information preferences, including opting out of certain uses of your personal information. By accessing or using Prosper’s websites, mobile applications or services, you consent to this Privacy Policy.
If you have questions or complaints regarding our Privacy Policy or practices, or if you need assistance in exercising any of your choices under this Privacy Policy, please contact us at [email protected].
This policy applies to all current and former Prosper customers. Note that, in order to use our services, you must be 18 years of age or older.
Effective January 1, 2020, the California Consumer Privacy Act (“CCPA”) provides specific rights and protections to California residents. If you are a California resident, please see the section entitled “Notice to California Residents” below for more information.
Information Provided by You
We collect personal information about you that you provide while you use Prosper websites, including but not limited to, www.prosper.com, www.prospercards.com, www.myprospercard.com, or www.prosperhealthcare.com or any other associated websites, desktop or mobile applications (collectively, the “Prosper website” or “Prosper websites”). We collect this information when you apply for credit or register as a borrower or investor. Additional information may be gathered during your subsequent use of the Prosper websites, or when we communicate with you via telephone, email or other means.
Certain personal information must be supplied when you apply for credit and/or register as a borrower or investor, or in connection with servicing your account, in order to meet our legal obligations, verify your identity, facilitate determinations for credit eligibility, protect against fraud, and complete your transaction. The following categories of information may be collected:
We may also collect information that you provide to us about your co-applicant in connection with a joint application or loan. By submitting information about someone other than yourself, you represent that you are authorized to provide us with that person’s information for the purposes identified in this Privacy Policy and/or in connection with our services.
In addition, we gather names, email addresses, and phone numbers of people who contact us with questions. We collect this information only for the purpose of responding to inquiries. If you use our “refer-a-friend” feature, we will collect information from you in order to process your referral request.
You may also provide your information to certain third-party financing platforms who will process your application for credit and may provide your information to us. The use of your information by that online financing platform is governed by that company’s privacy policy.
If you use the comments section of our blog on www.prosper.com, you should be aware that information you submit is stored there and will be visible to other users of the Prosper websites.
Information Collected From Third Parties
When you check your rate or apply for credit through Prosper, we will collect information from credit bureaus and other third parties to facilitate determinations for credit eligibility, perform analyses, provide you with marketing offers and assess risks related to extending credit to you and any co-applicant and, if you are a personal loan applicant, to help investors determine whether to commit to your personal loan. If you obtain a personal loan or credit card through Prosper, we also collect information throughout the life of your financial obligation through Prosper from credit bureaus and other third parties in order to assess risks associated with your financial obligation, perform analyses, provide information to investors interested in buying or selling your financial obligation, and to provide you with marketing offers. If another company refers you to Prosper or assists you in any way in the application process, we may also collect your information from that company in order to process your application.
The following categories of information are generally collected for loan and credit card applicants, and customers:
If you register as an investor through Prosper, we will collect information from credit bureaus and other third parties to verify your identity and bank account information and assess risks related to your account. If another company refers you to Prosper or assists you in any way in the registration or investing process, we may also collect your information from that company in order to process your registration or request, or to update your account information.
Information Gathered Based on Your Activity on the Prosper Websites
In order to provide services to you, improve our business and maintain records required by law, Prosper collects information about your transactions and activity. For personal loan borrowers, this includes your payment history. For credit card customers, this includes your transaction data such as credit card purchases, payment or transaction history. For investors, this includes your fund transfers and purchases. For all users, Prosper and/or its service providers collect information about your visits to www.prosper.com, www.prospercards.com, www.myprospercard.com, or www.prosperhealthcare.com and other Prosper websites and the computer or device through which you access our websites, such as your IP address, geographical location, operating system, browser type, referral source, time and length of visit, button clicks and/or page views, and your mobile device identifier (IDFA or AAID). With respect to individuals that have not created user accounts with Prosper, we do not associate the information that we collect with a particular consumer or household.
For customers using our mobile apps, the mobile apps may periodically collect, transmit, and use geolocation information to enable certain features, including features that prevent fraudulent card use and send alerts, but only if you expressly authorize collection of such information. Geolocation information can be monitored on a continuous basis in the background only while the mobile app is being used or not at all, depending on your selection. You can change your location permissions at any time in your mobile device settings.
Tracking Technologies
Cookies and Web Beacons. Prosper and our marketing partners and service providers use technologies such as but not limited to cookies, beacons, tags, and scripts, to analyze trends, administer the Prosper websites, track users’ movements around the Prosper websites, and gather information about our user base as a whole. We may receive reports on this activity on an individual and aggregated basis.
We use cookies when you interact with Prosper websites to keep track of your personal session, help authenticate your account, and detect fraud. Cookies are also used to gather statistical data, such as which pages are frequently visited, what is downloaded, and the address of sites visited immediately before or after coming to Prosper websites. You can control the use of cookies within your web browser. However, if you reject cookies, your ability to use some features or areas of Prosper websites may be limited.
Usage Data & Site Activity. Prosper also uses Local Storage, such as HTML5, to store content information and preferences. Various browsers may offer their own management tools for removing HTML5.
Third Party Technologies. We also partner with third parties to manage our advertising services on other websites and evaluate overall Prosper website performance, and/or to collect certain information when you visit and interact with Prosper websites and services. These third party companies may use technologies such as cookies to recognize browsers and to gather information about your activities on Prosper websites and other sites in order to provide you advertising based upon your browsing activities and interests or help us track the success of our marketing efforts, your interactions with Prosper websites, and overall Prosper website performance. If you wish to not have this information used for the purpose of serving you interest-based ads, you may opt-out of certain advertising networks by clicking here. Please note this does not opt you out of being served ads. You will continue to receive generic ads.
Do-Not-Track Signals
Prosper does not process or respond to “do not track” signals or other similar signals whereby a visitor to a website requests that it disable collection of information about the visitor’s online activities over time and across different websites.
Processing Your Transaction/Providing You Services
If you register as a borrower and/or request credit by applying for a loan or credit card, Prosper will use your information to facilitate your loan and/or request for credit, and other services provided you. This may include:
If you register as an individual investor, Prosper will use your information to facilitate marketplace investing. This may include:
Analysis & Data Optimization
Prosper also uses your information to conduct analyses related to our services and Prosper websites. We use this information to improve credit models and our services. We also use this information to improve Prosper websites’ usability and to evaluate the success of particular marketing campaigns and other activities.
Marketing & Surveys
Prosper may also use your personal information to select you for certain marketing communications, newsletters, surveys and/or requests for feedback regarding your experience. Prosper may use your personal information both to select you for offers and to communicate offers to you.
Optional Marketing Communications
Receipt of marketing communications via email is voluntary. If you do not wish to receive these communications, you may unsubscribe using the link in any marketing email that Prosper sends to you. Personal loan and investor customers may also sign in at www.prosper.com, select “Settings” from the drop down menu, and disable unwanted communication types in the section titled “Communication Preferences.” All consumers may contact us at [email protected] and we will assist you in disabling optional communications. Please note that for personal loan applicants and borrowers your opt-out choices will not apply to your co-borrower.
We will share your personal information with nonaffiliates (companies not related by common ownership or control) and among affiliates (companies related by common ownership or control, including but not limited to the companies covered by this policy) only in the ways that are described in this privacy policy. By law, you are permitted to limit some types of sharing, but not others.
Prosper shares your information with third parties as permitted by law, including in the following specific ways:
Consent to information sharing with third party companies (Referral Partners):
By accepting this privacy policy, you agree that Prosper may immediately begin sharing your information with any third party company that referred you to Prosper so that that company may use your information for their own business purposes, including to market to you. For example, if you were referred to Prosper by another company through a website link or telephone transfer, Prosper may share some of your information, such as the existence and terms of your loan, with that company. You may revoke this consent at any time by following the procedures outlined below. If you revoke consent we will not subsequently share your information with these companies except as necessary to complete the transaction you initiated.
Right to restrict information sharing with companies we own or control (affiliates): Prosper may share your information among affiliated companies whether or not those companies are covered by this policy. Federal law gives you the right to limit this sharing where it includes information about your creditworthiness other than your transactions and experiences with Prosper or is used for the purpose of marketing to you. If you would like to opt-out of this type of sharing, please follow the instructions below. We may begin sharing your information related to your creditworthiness or any information to be used for marketing purposes 30 days from the date that we first provided this notice if you have not opted-out.
In order to revoke your consent for information sharing with Referral Partners and/or opt-out of Prosper affiliate information sharing, you may sign into your Prosper Account, select “Settings” from the drop down menu, and disable “Optional Information Sharing” in the section titled “Communication Preferences.” You may also contact us at [email protected] and we will assist you in disabling such information sharing. Please note that your opt-out choices will also apply to your co-borrower.
If you would like to exercise your right to opt-out of information sharing by a company affiliated with Prosper but not covered by this policy, you must consult that company’s privacy policy for instructions on how to exercise your right to opt-out of their information sharing.
How you can change your personal information
If you have applied for a personal loan or registered as an investor, you can access the personal information you have provided to us by logging in at www.prosper.com ,and navigating to the “Settings” page of your account. As a registered investor, you can update your password, email, phone number, or home address at any time. As a registered personal loan applicant or borrower, you may update your password, email, phone number, bank account information or mailing address at any time, though certain changes prior to loan origination may require you to submit a new loan application. To change your information, you may also contact us at [email protected]. We will respond to your request within a reasonable time.
Credit card applicants: change your contact information by calling our customer service at 1- 800-851-0630. Prosper Card account holders: change your contact information by calling our customer service at 1-800-903-4697.
For all customers, we will retain your information for as long as needed to provide you services, comply with our legal obligations, resolve disputes, conduct analysis, audits, or to enforce our agreements or as otherwise permitted and/or required by law.
How Prosper Secures Your Information
Prosper uses significant safeguards, including physical, technical (electronic), and operational controls to protect your personal information, both during transmission and once received. If you have any questions about the security of your information, you can contact us at [email protected].
Prosper equips all servers with a Secure Socket Layer (SSL) certificate to ensure that when you connect to our websites you can tell that you are actually on our site and that all data entered into the websites are transmitted to us in a secure encrypted channel. Once on our system, personal information can only be read or written through defined service access points, the use of which is password-protected. Data security is achieved through technical safeguards that include a combination of encryption, firewalls, intrusion prevention system, malware detection system, and data loss prevention systems. Prosper also conducts vulnerability scans of applications and systems regularly.
Access to the system is tightly controlled and limited to only those who have a need to access information. Administrative safeguards such as a security awareness program, background checks, and internal information use policy ensure that only trained and trusted staff are permitted to access personal information. Some additional features of our security program include:
Secure Data Center
We store all sensitive financial information in state-of-the-art, highly secure data centers that are audited per AICPA SOC for Service Organizations. Physical access to the data centers is strictly controlled and we use the latest threat prevention technologies such as network and web application firewalls, VPN, antivirus, Web filtering and antispam technologies.
Session Time-Outs
We employ session time-outs to protect your account or application. You will be logged out of the site automatically after a specified period of inactivity. This time-out feature reduces the risk of others being able to access your account or information if you leave your computer unattended.
Account Authentication
If you have an account, at a minimum, we require that you use a password or follow other secure steps we have instituted to allow you to access your account. If you create a password, you must use both numbers and letters in your password. We have also instituted secure steps by which you can regain access to your account should you forget your password. You should always choose a password that is difficult for others to guess and change your password frequently.
Additional Steps You Should Take to Ensure the Security of Your Information
Prosper sends important communications regarding your account or application via email. You should therefore take steps to secure and restrict access to your email account and change your email account password frequently. You should also be aware of fraudulent emails known as “phishing,” from companies claiming to be Prosper and requesting your login information or other account information. Prosper will never ask for your login information in an email.
When you are finished using Prosper websites, you should log out completely, then close the browser window and clear the browser’s cache files and saved passwords. This step is particularly important if you use a computer that is accessed by other people, such as in a public library or Internet café.
Changes to this policy
Any updates to the privacy policy become effective when posted on Prosper websites. If we make any material changes, we will notify you by email or by providing the revised privacy policy in your account on www.prosper.com if you have one. Your continued use of our services following the update means that you accept Prosper’s updated privacy policy.
For additional information, or if you have any questions regarding this policy or the privacy practices at Prosper, please submit your questions or comments directly to [email protected].
Note: Prosper Marketplace, Inc. is the parent company of Prosper Funding LLC. Prosper Funding LLC owns the Prosper platform and website (www.prosper.com) and application as well as loans underlying all borrower payment dependent notes. Prosper Marketplace, Inc. operates the Prosper platform and provides administrative support to Prosper Funding LLC.
You can also send questions or comments to:
Prosper Marketplace, Inc.
Attn: Compliance Department
221 Main Street, Suite 300
San Francisco, CA 94105
1-855-755-1919
Effective date: February 28, 2023
Effective January 1, 2020, the California Consumer Privacy Act (“CCPA”) provides specific rights to California residents related to their “personal information,” as defined under the CCPA. Virtually all of the information that Prosper collects about its users is exempt from the CCPA, as it is collected, processed, sold or disclosed pursuant to the federal Gramm-Leach-Bliley Act (“GLBA”). The information that Prosper collects about its users pursuant to GLBA is described in the “Information Prosper Collects About You” section of this Privacy Policy.
Below is a description of the remaining “personal information” that is collected and disclosed to third parties, as well as your rights pertaining to this information.
This section only applies to California residents. The rights discussed in this section do not extend to individuals who are not California residents.
Personal Information Collected By Prosper:
Information about your interactions with our website and the mobile application: For all users, Prosper collects information about your interactions with our homepage, landing pages, other Prosper websites that you may visit prior to beginning the registration and/or application process, and information about the device you use to access the website and the mobile application. This includes your click movements on the webpage and the mobile application, IP address, mobile device identifier (IDFA or AAID), geographical location, operating system, browser type, referral source, time and length of visit, button clicks and/or page views. This information is collected by Prosper and our third party service providers, who work with us to track your interactions on these pages.
We collect this information in order to (i) help detect security incidents and protect against malicious, deceptive or fraudulent activity on our websites; (ii) identify and fix errors that affect the functionality of our websites; (iii) conduct internal research and analysis; (iv) determine eligibility for products and services; and (v) improve our websites and services.
Information that you provide in surveys, questionnaires, and/or requests for feedback: For users that complete surveys, questionnaires, and/or requests for feedback regarding their experience, we collect the information that you provide to us. This information is collected by Prosper and our third party service providers, who may help facilitate these information requests.
We collect this information in order to (i) conduct internal research and analysis and (ii) improve our websites and services.
Information from third parties for marketing: For certain consumers, we may work with marketing service providers to obtain your personal information, such as your name, address, and/or email address.
We collect this information for marketing purposes in order to present you with offers, promotions, advertisements and other marketing communications.
How Prosper Discloses Personal Information:
Prosper may share your personal information with third party service providers to help us conduct the business purposes listed above. Our service providers are authorized to use your personal information only as necessary to provide these services to Prosper. Prosper does not and will not sell your personal information.
Your Rights Under the CCPA
Right to Know/Right to Access.
Under the CCPA, California residents have the right to request that Prosper disclose what personal information we have collected, used, disclosed, or sold over the past 12 months. Once we receive and confirm your verifiable consumer request for such information, (see “How You Can Exercise Your Rights Under CCPA”), we will disclose to you:
Upon receiving your verified request for such information (see “How You Can Exercise Your Rights Under CCPA”), we will also disclose to you the specific pieces of personal information that we collected about you.
Right to Request Deletion.
Under the CCPA, California residents have the right to request that we delete any of your personal information that we collected from you and retained, subject to certain exceptions. Once we receive and confirm your verifiable consumer request (see “How You Can Exercise Your Rights Under CCPA”), we will delete your personal information from our records, and direct our service providers to do the same, unless an exception applies.
Right to Opt-Out of Sale of Personal Information.
Under the CCPA, California residents have the right to direct us to not sell your personal information (the “right to opt-out”). Prosper does not and will not sell personal information of consumers.
Right to Non-Discrimination.
Under the CCPA, California residents have the right not to be discriminated against for having exercised the rights established by the CCPA. We will not discriminate against you for exercising any of your CCPA rights. Unless permitted by the CCPA, we will not:
We may, however, offer you certain financial incentives permitted by the CCPA that can result in different prices, rates, or quality levels. Such financial incentives may include gift cards, credits, and other monetary offerings; additional details related to the material terms of these financial incentives will be provided to you at the time the incentive is presented to you. Any CCPA-permitted financial incentive we offer will reasonably relate to your personal information’s value and contain written terms that describe the program’s material aspects. Participation in a financial incentive program requires your prior opt in consent, which you may revoke at any time.
How You Can Exercise Your Rights Under CCPA
In order to exercise the right to know/right to access information and the right to request deletion, you or your authorized agent may submit a verifiable consumer request in one of the following ways:
If you are a personal loan customer and/or investor, you may exercise these rights by signing into your Prosper account, selecting “Settings” from the drop down menu and submitting your requests under “California Consumer Privacy Act”. If you are a Prosper Card account holder, you may contact us at [email protected] with a brief description of your request. If you do not have a Prosper account, you may contact us at [email protected] with a brief description of your request. Please note that if you contact us with your request via email we may request additional information from you or your authorized representative as needed to authenticate your request. You may only make a verifiable consumer request to know or request for access twice within a 12-month period.
The verifiable consumer request must do the following:
Upon receiving a request to know/request for access or a request for deletion, we will confirm receipt within 10 days. If we are able to verify your request, we will make our best effort to respond within forty-five (45) days of our receipt of your request. If we require more time (up to 45 additional days), we will inform you of the reason and extension period in writing. Additionally, in our response, we will specify the manner in which we have deleted your personal information, in accordance with the CCPA.
We will not disclose information to you or delete information if we cannot verify your identity.
How California Residents Can Designate an Authorized Representative
Only you as a California resident, or a person registered with the California Secretary of State that you authorize to act on your behalf, may make a verifiable request to know/request for access, request for deletion, or request to opt-out.
To appoint an authorized representative to submit requests on your behalf, please provide us with written instructions stating the identity of the authorized representative and your authorization to have the representative act on your behalf as outlined below:
Prosper Card accountholders: please send the written instructions appointing your authorized representative to
[email protected]. We may also request additional information from you as needed to authenticate your request. Authorized representatives acting on behalf of Prosper Card accountholders may then contact us at [email protected] with a brief description of the request to know/request for access, request for deletion, or request to opt-out. We may request additional information from the representative as needed to authenticate the request.
All other customers: please send the written instructions appointing your authorized representative to [email protected]. We may also request additional information from you as needed to authenticate your request. If an authorized representative is acting on your behalf to make a request to know/request for access, request for deletion, or request to opt-out, your representative may also contact us at [email protected] with a brief description of the request. Please note that we may request additional information from your representative as needed to authenticate your request.
Federal Privacy Notice Rev. 02/2023
Why?
Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
What?
The types of personal information we collect and share depend on the product or service you have with us. This information can include:
When you are no longer our customer, we continue to share your information as described in this notice
How?
All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Prosper chooses to share; and whether you can limit this sharing.
For our everyday business purposes —
such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus
Yes
No
For our marketing purposes—
to offer our products and services to you
Yes
No
For joint marketing with other financial companies
No
No
For our affiliates’ everyday business purposes—
information about your transactions and experiences
Yes
No
For our affiliates’ everyday business purposes—
Information about your creditworthiness
Yes
Yes
For our affiliates to market to you
Yes
Yes
For nonaffiliates to market to you
Yes
Yes
To limit our sharing
Personal loan and investor applicants/customers may limit our sharing of information by signing into your account at www.prosper.com, selecting “Settings” from the drop down menu, and disabling “Optional Information Sharing” in the section titled “Communication Preferences.”
All consumers may contact us at [email protected] and we will assist you in disabling such information sharing.
Following the instructions above will also revoke your consent provided in the above privacy policy for certain information sharing with nonaffiliated companies.
Please note that your opt-out choices will also apply to your co-borrower.
Please note:
If you are a new customer, we can begin sharing your information 30 days from the date we sent this notice (except where we have received your affirmative consent to begin sharing information sooner, through our privacy policy or otherwise). When you are no longer our customer, we continue to share your information as described in this notice. However, you can contact us at any time to limit our sharing.
Questions?
Email us at [email protected] or call us at 1-855-755-1919
Who is providing this notice?
Prosper Funding LLC
Prosper Marketplace, Inc.
How does Prosper protect my personal information?
To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and building.
How does Prosper collect my personal information?
We collect your personal information, for example, when you
We also collect your information from others, such as credit bureaus, affiliates, or other companies.
Why can’t I limit all sharing?
Federal law gives you the right to limit only
State laws and individual companies may give you additional rights to limit sharing.
What happens when I limit sharing for an account I hold jointly with someone else?
Your choices will apply to everyone on your account.
Affiliates
Companies related by common ownership or control. They can be financial and nonfinancial companies:
Nonaffiliates
Companies not related by common ownership or control. They can be financial and nonfinancial companies.
Joint marketing
A formal agreement between nonaffiliated financial companies that together market financial products or services to you.
Telephone Communications: Prosper and its authorized agents, service providers, Lending Partners and partners may monitor and/or record all telephone communications in accordance with applicable law.
Vermont Residents: We will not disclose information about your creditworthiness to our affiliates and will not disclose your personal information, financial information, credit report, or health information to nonaffiliated third parties to market to you, other than as permitted by Vermont law, unless you authorize us to make those disclosures.
Nevada Residents: We are providing you this notice pursuant to state law. You may be placed on our internal Do Not Call List by calling 855-755-1919 or emailing [email protected]. Nevada law also requires us to provide you with the following to obtain additional information: Bureau of Consumer Protection, Office of the Nevada Attorney General, 555 E. Washington Street, Suite 3900, Las Vegas, NV 89101; Phone: 702.486.3132; Email: [email protected].