Utah Bank Called Out for Laundering Loans for Payday Predator

FinWise partnered with lender charging 149% interest

Andy Spears

--

Photo by Jason Dent on Unsplash

The District of Columbia yesterday announced a settlement with online lender Elevate that will refund millions of dollars to consumers. The agreement was reached as a result of Elevate violating interest rate caps in DC — the maximum rate for a loan there is 24%.

--

--

Andy Spears

Writer and policy advocate living in Nashville, TN —Public Policy Ph.D. — writes on education policy, consumer affairs, and more . . .