Prosper Marketplace, one of the largest marketplace lenders, is discontinuing the Prosper Daily app.
The app, formerly known as BillGuard and a favorite of many fintech insiders, helped users protect their identities and monitor their credit scores.
Silhouette of a hacker with binary codes on background
TheaDesign/theaphotography - Fotolia
In a blog post announcing the app’s sunset, Prosper — which announced the acquisition of the consumer finance maker BillGuard in September 2015 — wrote: “This decision is part of Prosper’s continuing focus on creating a category-defining experience for borrowers, as well as for investors interested in consumer loans. Prosper continues to see growth and momentum across its business, and our current position of strength gives us the opportunity to further enhance the experience for borrowers and investors.”
The online lender said it will no longer have access to users' financial accounts once the app is discontinued and that it will reimburse annual subscribers. Prosper Daily was free, but users could add identity protection for $9.99 a month or $83.88 a year.
Prosper's post urged consumers to use Clarity Money, a personal financial app that counts Acorns, a microinvesting app, as a partner.
The Suffolk, Virginia-based bank has agreed to pay more than $200 million for Old Point Financial in Hampton. It announced the deal just two days after its previous acquisition closed.
President Trump's tariffs on imported vehicles threaten to drive up auto prices at a time when more car owners are already drifting into delinquency on their loans.
Fears of a recession intensified after President Trump unveiled his plan to impose a minimum 10% tariff on all U.S. imports, and the KBW Nasdaq Bank Index tumbled by nearly 10%.
The federal Small Business Investment Company program has seen a spike in interest since a new rule incentivizing support for early stage companies took effect in 2023. Now there is growing political support for ways to further bolster the program.
The Consumer Financial Protection Bureau said in a court filing that it will repropose a rule requiring lenders to report small-business loan data, citing legal challenges.