Cash advance alternative LendUp to pay for $6.3 million for misleading customers

Cash advance alternative LendUp to pay for $6.3 million for misleading customers

LendUp is a component of a revolution of organizations guaranteeing payday loans Georgia a less form that is toxic of loans, nonetheless it owes fines and refunds for breaking customer finance laws and regulations.

LendUp, an on-line loan provider that promised friendlier options to high-cost pay day loans, will probably pay $6.33 million in refunds and fines for breaking customer finance laws and regulations.

LendUp, which runs in 24 states, will refund $1.83 million to significantly more than 50,000 borrowers included in the settlement that is federal the customer Financial Protection Bureau announced Tuesday. Read More