Feds investigating lender that sued thousands of lower-income Latinos during pandemic
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Feds Investigating Lender That Sued Thousands of Lower-Income Latinos During Pandemic
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A federal consumer watchdog agency has launched an investigation into a company that aggressively sued thousands of Latino borrowers in Texas during the coronavirus pandemic while depicting itself as a financial ally of the community.
Oportun Inc., a Silicon Valley-based installment lender, which was founded to help Latino immigrants build credit so they can go on to achieve the American Dream, disclosed to investors last week that it had received a civil investigative demand from the Consumer Financial Protection Bureau.
Credit: Eddie Gaspar/The Texas Tribune
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A federal consumer watchdog agency has launched an investigation into a company that aggressively sued thousands of Latino borrowers in Texas during the coronavirus pandemic while depicting itself as a financial ally of the community.
Oportun Inc., a Silicon Valley-based installment lender, which was founded to help Latino immigrants build credit so they can go on to achieve the American Dream, disclosed to investors last week that it had received a civil investigative demand from the Consumer Financial Protection Bureau.