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OppFi files complaint to block “true lender” challenge by California Department of Financial Protection and Innovation

CFPB Monitor

Maryland, New York, North Carolina, Ohio, Pennsylvania, West Virginia, and Colorado. The complaint seeks a declaration that the interest rate caps in the CFL do not apply to Program Loans and an injunction prohibiting the DFPI from enforcing the CFL rate caps against OppFi based on its participation in the Program.