OppFi and the 160% Interest Rate Loan
Fintech case in California has broad industry implications
2 min readOct 17, 2022
I’ve written before about shady fintech lender OppFi and their insistence that they should be allowed to charge interest rates of 160% in California. This is because they use a so-called “rent-a-bank” model and “borrow” the interest rate from Finwise, based in Utah.
