Regulatory · Lending · 2021

LendUp settles CFPB enforcement action, shutters lending operations

LendUp issued CFPB settlement and shutdown order affecting Consumer Financial Protection Bureau on December 21, 2021.

Primary: LendUp
Counterparty: Consumer Financial Protection Bureau
Amount: $100,000
Structure: CFPB settlement and shutdown order
Date: December 21, 2021
Sub-sector: Lending

CFPB enforcement action shuts down fintech lender for repeated deceptive practices in loan pricing, signaling aggressive regulatory scrutiny of lending transparency.

Primary company: LendUp
Counterparty: Consumer Financial Protection Bureau
Amount: $100,000
Event date: December 21, 2021
Sub-sector: Lending
HQ: Not disclosed
Structure: CFPB settlement and shutdown order
Source published: December 21, 2021
Publisher: American Banker

Source: americanbanker.com

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