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September 27, 2016 09:38 pm GMT
LendUp was supposed to be different than the payday loan sharks that rip off the poor when they need emergency cash. But in its early days, LendUp charged customers illegal fees, miscalculated interest rates, falsely advertised loans nationwide that weren’t available there, and misled people that borrowing from LendUp would boost their credit score. Now LendUp will have to pay $6.3… Read More
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/bXehvbwKot0/
Good guy loan startup LendUp fined $6.3M for overcharging
LendUp was supposed to be different than the payday loan sharks that rip off the poor when they need emergency cash. But in its early days, LendUp charged customers illegal fees, miscalculated interest rates, falsely advertised loans nationwide that weren’t available there, and misled people that borrowing from LendUp would boost their credit score. Now LendUp will have to pay $6.3… Read MoreOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/bXehvbwKot0/
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