Social Funds

Google Ventures backs LendUp to rethink payday loans

A startup called Flurish Inc., better known as LendUp, has raised $ 14 million in Series A funding to provide an online alternative to traditional payday loans, according to co-founders Sasha Orloff and Jacob Rosenberg. Google Ventures led the investment in LendUp, joined by Data Collective and QED Investors. The …

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Alabama judge dismisses payday lender lawsuit

Archive photo (Source: WSFA 12 News) MONTGOMERY, AL (WSFA) – A Montgomery County Circuit Court judge dismisses a lawsuit filed by payday lenders seeking to challenge the state’s creation of a central database to track loans . Payday loans are short-term, often high-interest loans with rates as high as 456%. …

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Payday lender settles with North Carolina AG for $ 825,000

On January 27, the North Carolina Attorney General ad that a Florida-based payday lender (lender) agreed to pay $ 825,000 to settle allegations of usury, unlicensed loaning, illegal debt collection and unfair and deceptive practices in violation of the laws of the State on consumer protection. According to the announcement, …

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