LendUp To Pay $1.25M To Settle CFPB Service Member Claims
Law360 (January 20, 2021, 5:51 PM EST) -- Fintech company LendUp Loans LLC, a self-described "alternative to payday loans," will pay the Consumer Financial Protection Bureau a $950,000 civil penalty and set aside $300,000 to pay back military members and their families whose LendUp loans didn't meet federal requirements for lending to service members.
According to the settlement terms included in a Wednesday order by U.S. District Judge Jeffrey S. White in California, LendUp neither admitted nor denied wrongdoing in connection with its deal with the CFPB, and LendUp, which used to be known as Flurish Inc., was barred from collecting on, selling or assigning any debts from loans...
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!