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It seemed to me like the business is having financial trouble and cannot pay a fine like last time, so has to be penalized in another fashion, maybe I'm misread
by veltas 5y ago
It seemed to me like the business is having financial trouble and cannot pay a fine like last time, so has to be penalized in another fashion, maybe I'm misreading it.
> The order would also impose a $100,000 civil money penalty based on LendUp’s demonstrated inability to pay.
- dragonwriter 5y ago> It seemed to me like the business is having financial trouble They were ordered to pay $1.2 million in fines and restitution for the military lending violations earlier this year, and ordered not to collect (or sell or assign) on a bunch of those illegal loans, plus the new case has them prohibited from making any new loans and from collecting (selling/assigning) on a large share of their remaining outstanding loans. So, yeah, they are having financial problems.