Connecticut Banking Dept. issues cease and desist order to stop fintech loan finder from operating without small loan license
CFPB Monitor
MAY 19, 2022
The Order also directs SoLo to stop enforcing loans made to Connecticut residents and make restitution of any amounts it obtained in connection with such loans together with interest. As described in the Order, SoLo’s website promotes its ability to “connect lenders and borrowers” through a mobile application (“Platform”).
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