Online Lender Faces Loan Processing Scrutiny From CFPB

By Jon Hill (October 29, 2021, 7:59 PM EDT) -- Online lender Enova International Inc. told investors Friday that its loan processing is under investigation by the Consumer Financial Protection Bureau.

In a quarterly securities filing, Chicago-based Enova said that it recently received a CFPB civil investigative demand concerning what the company called "certain loan processing issues," though it did not elaborate on what those issues are.

Enova said that it has been cooperating with the CFPB and expects to be able to wrap up the investigation "expeditiously," noting that several of the issues were self-reported to the CFPB and that consumers are already being repaid.

"We have provided, and will...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!