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Pay day loan alternative LendUp to spend $6.3 million for misleading consumers

Pay day loan alternative LendUp to spend $6.3 million for misleading consumers

LendUp is part of a wave of agencies promising a decreased hazardous as a type of payday loans, but it owes fees and discounts for violating customers financial rules.

  • By Amrita Jayakumar NerdWallet
  • LendUp, an internet lender that assured friendlier options to high-cost payday loans, pays $6.33 million in incentives and fees for breaking customers fund laws.

    LendUp, which operates in 24 countries, will repay $1.83 million to well over 50,000 customers in the federal settlement, the buyer financing Protection agency launched Tuesday.