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May 31, 2023

Posted  May 31, 2023

One of the largest non-depository personal installment lenders in the country, OneMain Financial, has been ordered to pay $20 million in penalties and restitution for tricking borrowers into signing up for optional products and failing to refund interest on purchases they claimed were fully refundable.  As part of the settlement, OneMain was also ordered to adjust its cancellation policies.  CFPB

Tagged in: Financial Institution Fraud,