Cash-advance app Earnin changes its tune amid NY probe. On the web loan providers under research by regulators in 11 states, Puerto Rico
on line loan providers under research by regulators in 11 states, Puerto Rico
Duplicate messages demanding mercy on payday lenders overwhelms regulators
Cash-advance application Earnin gets subpoenaed by NY regulator: supply
Popular cash loan application Earnin operating in cash advance ‘gray area,’ experts claim
A cash-advance software supported by rapper Nas is scrambling to flee heat that is regulatory issues so it is doing unlawful payday financing into the the big apple, The Post has discovered.
Earnin, a Silicon Valley startup whose investors have investment capital company Andreessen Horowitz, quietly disabled a feature that is controversial ny users that links the dimensions of its loans to voluntary вЂњtips,вЂќ according to sources near the situation.
The guidelines вЂ” which could stretch because high as $14 on a $100 loan that is weekly are much like the crippling annualized portion rates which have gotten pay day loans prohibited in 15 states including ny, critics state. (meer…)