The Consumer Financial Protection Bureau (CFPB) has received a complaint every 21 hours for the past five years about a single California fintech company, public records show. But that’s far from all the trouble CashCall and its attorneys are facing.
The 15-year-old Orange, California-based online lending company was ordered by the Virginia attorney general’s office in January 2017 to pay more than $15 million to consumers who CashCall allegedly deceived into accepting illegally high interest rates on loans with annual rates reaching up to 230 percent.
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