OppFi settles $2M D.C. interest rate cap violation case
OppFi issued Settlement affecting District of Columbia Attorney General on December 1, 2021.
- Primary
- OppFi
- Counterparty
- District of Columbia Attorney General
- Amount
- $2M
- Structure
- Settlement
- Date
- December 1, 2021
- Sub-sector
- Lending
OppFi resolves enforcement action over charging APRs above D.C.'s 24% cap; reflects state enforcement against rent-a-bank lending partnerships.
Source: americanbanker.com