2024-10-23 10:20:04
SoLo Funds is facing a new class action lawsuit according to a copy seen by TechCrunch and first reported by Bloomberg.
It accuses SoLo Funds of misleading consumers by advertising zero interest fees on loans yet encouraging “tip fees” and “donation fees” to obtain said loans. The complaint alleges these are hidden fees that the company makes hard to opt out of, making their loans more expensive than borrowers expected.
As TechCrunch previously reported, the company has been sued by Connecticut, California, and the Consumer Financial Protection Bureau (CFPB). In May, the CFPB alleged the company used “digital dark patterns” to mislead consumers and illegally take fees, despite advertising there were no fees. SoLo Funds settled these earlier suits with all but the CFPB.
SoLo has raised at least $13 million, according to Crunchbase, from backers like Serena Williams, Alumni Ventures, and Techstars. SoLo Funds declined comment.
Kareena Kapoor is working with Raazi director Meghna Gulzar for her next film. The project,…
2024-11-09 15:00:03 WEST LAFAYETTE -- Daniel Jacobsen's second game in Purdue basketball's starting lineup lasted…
2024-11-09 14:50:03 Rashida Jones is remembering her late father, famed music producer Quincy Jones, in…
2024-11-09 14:40:03 A silent German expressionist film about vampires accompanied by Radiohead’s music — what…
Let's face it - life can be downright stressful! With everything moving at breakneck speed,…
Apple’s redesigned Mac Mini M4 has ditched the previous M2 machine’s SSD that was soldered…