A unit of fintech MoneyLion Inc. settled a Biden-era Consumer Financial Protection Bureau lawsuit alleging the company violated a 36% interest rate cap on loans to active-duty military personnel.
MoneyLion and the CFPB asked to halt a scheduled briefing in the case because the two sides have “reached an agreement in principle to fully resolve this action, including injunctive and monetary terms,” according to a joint letter filed Wednesday in the US District Court for the Southern District of New York.
The case is one of only several enforcement actions the CFPB has continued to pursue under acting director Russell ...
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