I’ve noticed now that they have added a new feature called “Community Payment” which I’m not sure I like. The concept is simple: if a member of a group is behind on payments, other group members can chip in and make a payment on the overdue loan.
Among other things, his beef is that the new feature lends itself to fraud, and it removes fiscal responsibility from the individual. As I haven’t yet gotten active on Prosper, I can’t say how I really feel on this one. Any other thoughts?