Credit card -- Closing your account -- Complaint #18277723

Complaint Overview

Complaint ID: 18277723

Company: Prosper Marketplace, INC.

Product: Credit card

Sub-Product: General-purpose credit card or charge card

Issue: Closing your account

Sub-Issue: Company closed your account

State: Indiana

ZIP Code: XXXXX

Date Received: 2025-12-24T12:00:00-05:00

Date Sent to Company: 2025-12-24T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

I am submitting this complaint regarding Prospers unilateral closure of my credit account without prior notice and the subsequent allegation that I opened the account with intent to commit fraud. I discovered that my account had been closed only when I logged in to check my payment due date and saw a notice indicating the account was closed. I received no advance notice, warning, request for verification, or opportunity to provide information before the closure. I immediately contacted Prosper customer service. The initial representative stated only that Prosper had been unable to verify certain information but refused to provide details. After escalation to a supervisor, I was told that Prosper had closed the account because it had concluded the account was opened with intent to commit fraud. This allegation is completely false and unsupported. At no point was I contacted to verify information, despite being fully reachable and willing to cooperate. There has never been a missed payment, misuse of the account, or suspicious activity. The account was used normally and responsibly. Prosper has not provided : - Any written explanation of the basis for the fraud allegation - Any disclosure of what information or consumer report was relied upon - Any adverse action notice - Any clarification regarding whether adverse information has been or will be reported to credit reporting agencies If Prosper relied on consumer reporting information, fraud scoring, or third-party verification services in making this determination, I believe Prosper has failed to comply with the Fair Credit Reporting Acts adverse action and disclosure requirements. Additionally, Prosper has not clearly explained how repayment of any remaining balance is to be handled after Prosper elected to terminate the account without notice. I am requesting that Prosper be required to : 1. Provide a written explanation of the reason for closing my account 2. Disclose the factual and evidentiary basis for the fraud allegation 3. Identify any consumer reporting agency or third-party data relied upon 4. Confirm whether any adverse information has been furnished to credit bureaus 5. Correct any inaccurate reporting and cease any improper reporting related to fraud I am not refusing to pay legitimate charges. I am seeking transparency, accuracy, and compliance with federal consumer protection laws. The manner in which this account was closed and the seriousness of the allegation made against me warrant regulatory review. I respectfully request CFPB assistance in obtaining a complete and lawful response from Prosper. Sincerely, XXXX XXXX

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