MoneyLion Faces $1.75M Hit in CFPB Settlement on MLA Charges
Hey FinTech Fanatic!
MoneyLion will pay $1.75 million to settle a CFPB lawsuit alleging it charged service members more than the 36% interest-rate cap allowed under the Military Lending Act.
The bureau said the FinTech tied access to low-APR loans to mandatory memberships costing up to $29 per month