Author: NNPA

Baltimore sues MoneyLion over predatory paycheck advance loans

Baltimore has filed a lawsuit against fintech company MoneyLion, alleging the app traps residents in high-cost, short-term loans known as “Instacash.” City officials say the company’s misleading marketing and optional fees have disproportionately harmed the city’s most financially vulnerable residents.
The post Baltimore sues MoneyLion over predatory paycheck advance loans appeared first on AFRO American Newspapers.

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