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CA DBO Announces $2.7 Million Settlement with LendUp to Redress Widespread Violations of Payday, Installment Loan Laws

CA DBO Announces $2.7 Million Settlement with LendUp to Redress Widespread Violations of Payday, Installment Loan Laws

Firm Charged Several Thousand Borrowers Illegal Charges and Prices

SACRAMENTO – The California Department of company Oversight (DBO) today finalized money with Flurish, Inc. (LendUp) that needs the company to pay for $2.68 million to solve allegations it charged illegal costs and committed other widespread violations of payday and lending that is installment.

“The illegal charges impacted several thousand Ca borrowers and revealed a persistent failure by LendUp to comply with Ca customer protection laws,” stated DBO Commissioner Jan Lynn Owen.

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