OppFi and the 160% Interest Rate Loan

Fintech case in California has broad industry implications

Photo by Daniel Thomas on Unsplash

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.