The Anonymous Widower

Zopa and America

In some ways, Zopa illustrates the United States’ problems.

Zopa is an innovative financial company and you’ve have thought it would have gone down well, given the country’s history with credit unions.

But no!  The legislators made it impossible for the company to operate in the same way as in the UK. Read Zopa’s view on this. It may have been a bad way to launch in the United States, but another company called Prosper doing peer-to-peer lending also had troubles with the regulators.

You can read what you like into all that, but I can’t help feeling that the US still gives the banks too much power to squash possible threats.

November 4, 2010 - Posted by AnonW | Finance, World | Banks, United States, Zopa