Anyone ever hear of Zopa?
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Is Zopa regulated?
All Zopa Loans and Zopa CDs are issued by our partner credit unions, and their activity is regulated by both the National Credit Union Administration and in many cases by state authorities. This includes, among other regulations, compliance with the Equal Credit Opportunity Act, the Truth in Savings Act, the Truth in Lending Act, the Fair Debt Collection Practices Act, and all consumer lending laws. So that regulatory scrutiny is passed on to us, though we are technically neither a bank nor a credit union.
Can I buy shares in Zopa?
Unfortunately, no. Zopa is a private company with no publicly listed shares.
How does Zopa make money?
Zopa makes money primarily by servicing the Zopa Loans and Zopa CD's for our partner credit unions. Consumers pay no fees to transact or on a recurring basis so long as all their payment processing is electronic, and so long as they are current on all loan payments.
What happens if Zopa fails?
Zopa is run by an experienced financial services team, is backed by experienced investors, and guided by its partner credit unions. So we believe the risk of Zopa failing is minimal.
However, if Zopa did go out of business, the Zopa Loan and Zopa CD agreements would still remain in force, as they are between the Zopa member and the issuing partner credit union.
What are the Zopa Principles?
The Zopa Principles are our terms and conditions for using Zopa.
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