Securitization was comprised entirely of mortgage loans originated by Change Lending, a Community Development Financial Institution (CDFI) certified by the United States Department of the Treasury CDFI Fund. The loan portfolio consists of $201 million of prime residential mortgages with a weighted average LTV of 56%, FICO of 728 and […]
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CFPB Sues MoneyLion for Overcharging Servicemembers and Trapping Consumers in Costly Memberships
Washington, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) sued MoneyLion Technologies, an online lender, and 38 of its subsidiaries, for imposing illegal and excessive charges on servicemembers and their dependents. The CFPB alleges that MoneyLion violated the Military Lending Act by charging more than the legally allowable 36% […]