Fintech Lender LendUp Shuttered by Consumer Bureau
Action Comes Following Multiple Violations of Consumer Protection Laws
The Consumer Financial Protection Bureau (CFPB) announced today it has reached an agreement with LendUp that means the lender will stop doing business.
“LendUp was backed by some of the biggest names in venture capital,” said CFPB Director Rohit Chopra. “We are shuttering the lending operations of this fintech for repeatedly lying and illegally cheating its customers.”