LendUp to pay fines after charges of illegal loan practices

Discussion in 'Wall St. News' started by dealmaker, Sep 28, 2016.

  1. dealmaker

    dealmaker

    LendUp to pay fines after charges of illegal loan practices
    San Francisco-based LendUp wasfined $6.3 millionover illegal fees, misleading annual percentage rates on loans and other violations. LendUp, which gives small loans to risky borrowers who can't get money from banks, did not admit wrongdoing, but will pay penalties to the Consumer Financial Protection Bureau and the California Department of Business Oversight.(Wall Street Journal)