Surprised to have gotten offer email today for 1% bonus on min $2,500 added and invested.  So Prosper wants little guys still?  I have only a small amount with them  (most is with LC) and have been reinvesting minimally since amount is not significant and returns still ok.

Reading WSJ story on ROA of credit card companies lately, though in their case, due a lot to competition for very low int. rates and rewards, but also loss ratios increasing some; a bit of article that may be of interest to LC Investors:

Five of the largest credit-card issuers— American Express Co., Capital One Financial Corp., Citigroup Inc.,Discover Financial Services and Synchrony Financial  —generated a median return of 2.1% on their assets for common shareholders in the first quarter, up from 2% a year earlier but down from 2.6% two years prior, according to analysis by Autonomous Research. The recent peak was 3.7% in the second quarter of 2011, according to an industry analysis by Autonomous at the time.

The pickup in returns for most banks in the first quarter was primarily the result of tighter underwriting, which helped slow the rate of loan loss increases and the amount of money banks are setting aside for future losses. U.S. tax-law changes that lowered corporate tax rates also helped.

Meanwhile, banks and fintech lenders that originate personal loans have been increasing solicitations in recent quarters. Many of these offers are targeting consumers with credit-card debt and pitching the opportunity to roll over that debt into a personal loan at a lower interest rate. Their prime targets are the customers who card issuers want to keep most: those with high credit scores who carry a card balance each month.

A record 516 million personal loan solicitations were mailed out in the first quarter, up 46% from a year ago, according to estimates from market research firm Competiscan. This marked the fifth-consecutive record-breaking quarter.

Anyone else concerned a bit at their stock down to 3.27, or is it irrelevant to our holdings? I, like most, am in drawndown mode but need them to last a few more years.  Just glad to have sold that stock they gave us rights to buy long ago.  Made up a little for the huge defaults from the bad vintage times.

The most painful thing is paying taxes on an investment where you lose money for the year which will be my case.  It will take me years to use up all the capital losses.  That was my big mistake in pursuing this investment, not realizing that mismatch.  Your net return might be 3%, but you're paying taxes as if you earned 20% if you invested in low-grade loans while an investment in higher grade loans might net out very similarly but without that huge capital loss you can't use for years.

Thought was too good to be true.  Got email saying special message so logged in to find msg about calc error and return now 1% lower. still higher than lc but low amt.

Nov. was the first month since I began investing 5 years ago where Chargeoffs exceeded interest income.  I hadn't checked the count, but I assume that goes along with what you're seeing. 

I got the same today.  Some guy in accounting at LC that was planning to do the Richard Pryor Superman III fraction of a penny scam must be really disappointed.