Fintech lender Prosper to pay $3 million fine for lying to investors

Prosper, a longtime player in the personal lending space, announced plans in November to enter the mortgage arena with a digital HELOC product that promised to disrupt home equity lending. But there’s a chance these plans could be put on hold. The SEC announced Friday that Prosper has agreed to pay a $3 million fine to settle charges that it lied to investors by reporting inflated returns.