The District's attorney general alleged the fintech's loans to city residents carried interest rates well above a 24% cap. OppFi will pay $1.5 million in restitution to 4,000 borrowers and waive more than $640,000 in unpaid interest.
Original source: https://www.bankingdive.com/news/oppfi-to-pay-more-than-2m-to-settle-dc-interest-rate-cap-suit/610865/