Oportun Informed by Consumer Financial Protection Bureau that it has Concluded its Investigation of Oportun and Will Not Recommend any Enforcement Action
March 28 2023 - 4:05PM
Oportun (Nasdaq: OPRT), a mission-driven fintech and digital
banking platform, today announced that the Consumer Financial
Protection Bureau (CFPB) has informed Oportun, via letter, that the
agency has completed its investigation of the Company. In its
letter, the CFPB stated that its Office of Enforcement staff
concluded that it would not recommend pursuing an enforcement
action against the Company.
The Bureau was assessing Oportun’s legal collection practices
from 2019 to 2021, along with its hardship program during the
COVID-19 pandemic. As it has maintained throughout its engagement
with the CFPB on this matter, the Company continues to believe that
its business practices have been in full compliance with applicable
laws.
For more information about Oportun, visit Oportun.com.
About OportunOportun (Nasdaq: OPRT) is a
digital banking platform that puts its 1.9 million members'
financial goals within reach. With intelligent borrowing, savings,
budgeting, and spending capabilities, Oportun empowers members with
the confidence to build a better financial future. Since inception,
Oportun has provided more than $15.5 billion in responsible and
affordable credit, saved its members more than $2.3 billion in
interest and fees, and helped our members save an average of more
than $1,800 annually. For more information, visit Oportun.com.
Investor Contact
Dorian Hare
(650) 590-4323
ir@oportun.com
Media Contact
Usher Lieberman
(650) 769-9414
usher.lieberman@oportun.com
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