Ratesetter withdraw from the P2P Finance Association

clay Posts: 33 Likes: 22	Ratesetter withdraw from the P2P Finance Association Aug 18, 2017 18:15:23 GMT oik and dan1 like this Quote Select Post Deselect Post Link to Post Back to Top Post by clay on Aug 18, 2017 18:15:23 GMT Tiny blog post here

nairda Member of DD Central Posts: 112 Likes: 43	Ratesetter withdraw from the P2P Finance Association Aug 18, 2017 18:27:35 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by nairda on Aug 18, 2017 18:27:35 GMT This is very sad news, how can a one time market leader lose its way so quickly? I am glad Mrs N and I will be right out of RS very soon (hopefully).

dan1 Moderator "It's all about the cue action." Posts: 3,496 Likes: 3,808	Ratesetter withdraw from the P2P Finance Association Aug 18, 2017 18:39:05 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by dan1 on Aug 18, 2017 18:39:05 GMT Aug 18, 2017 18:15:23 GMT clay said: Tiny blog post here Blog post dated today - they've already been removed from the P2PFA list of members here
	Space Karen's Starship Never play chess with a pigeon. Comparison is truly the thief of joy.

mary
Member of DD Central

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Ratesetter withdraw from the P2P Finance Association Aug 18, 2017 20:02:04 GMT beeje13 likes this

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Post by mary on Aug 18, 2017 20:02:04 GMT

As Trump would say "Sad".

I think the explanation is lame...

Membership requires adherence to the P2P Finance Association Operating Principles including transparency. No customer has experienced any loss from our actions but we recognise that our actions breached the principles of the Association.

While I agree they probably breached, if they then re-committed to not repeat they could likely remain and continue to adhere to the principles, by withdrawing they do not have to even try to be transparent any longer!!!

Worried!

WestonKevTMP
Representative of themoneyplatform.com

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Ratesetter withdraw from the P2P Finance Association Aug 18, 2017 21:42:38 GMT mrclondon, paul123, and 2 more like this

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Post by WestonKevTMP on Aug 18, 2017 21:42:38 GMT

To be blunt, this was probably a good excuse to get out....

The P2PFA has only 7 members, out of 50+ potential sites. It's always been a clique (just ask Wellesley), has a logo amateurishly designed in PowerPoint, and a Gmail email contact address.

In my opinion, I don't recall a single incident over last 7 years where they've been helpful to the industry, other than the provision of a logo that could give a vaneer of respectability.

Kevin.

agent69 Member of DD Central Posts: 5,589 Likes: 4,182	Ratesetter withdraw from the P2P Finance Association Aug 19, 2017 10:13:26 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by agent69 on Aug 19, 2017 10:13:26 GMT It was suggested elsewhere that the notice of withdrawl came just after the sell out option lapsed. Coincidence or cynical ploy to minimise the stampede to the exit?

oik Member of DD Central Posts: 254 Likes: 349	Ratesetter withdraw from the P2P Finance Association Aug 19, 2017 12:07:42 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by oik on Aug 19, 2017 12:07:42 GMT Aug 18, 2017 21:42:38 GMT WestonKevTMP said: has a logo amateurishly designed in PowerPoint Perhaps Ratesetter could ask them to do a logo for them, maybe with less purple?