CFPB Sides with Predatory Lender Over Defrauded Consumers · Consumer Federation of America For Immediate Release: Monday, February 24, 2025 Press Contact: media@consumerfed.org CFPB Sides with Predatory Lender Over Defrauded Consumers CFPB permanently dismisses Solo Funds, Inc. from enforce...

#CFPB has opted to walk away from enforcement action against fintech provider #SoLoFunds.

“SoLo Funds lied to its customers, plain and simple," said @erinwitte-cfa.bsky.social. “Our country is headed for another economic meltdown if we continue to cripple the CFPB.”

consumerfed.org/press_releas...

CFPB Drops Lawsuit Against Illegal Tip-Based Payday Lender Peer-to-peer loan platform, sued by multiple states, claims 0% APR for 400% APR loans WASHINGTON ––Late Friday the Consumer Financial Protection Bureau (CFPB) dismissed, with prejudice, an enforcement...

The CFPB has dismissed an enforcement action that it had filed last year against #SoLoFunds for deceiving borrowers and illegally extracting fees. Now states have to pick up the pieces against a company that's deceiving borrowers and ignoring rate caps. www.nclc.org/cfpb-drops-l...

2/ update: the acting #CFPB director #RussVought got brutally community noted on his tweet about P2P payday lender #SoLoFunds

screenshot of Russ Vought tweet

new director of the Consumer Financial Protection Bureau (#CFPB) making an official public statement in favor of #SoLoFunds, a peer to peer payday lender that operated w/out a license and connected desperately poor people to loans charging 2,000% interest. […]

[Original post on universeodon.com]