PayPal flagged by consumer groups over ‘aggressive’ shadow student lending

Last modified August 21, 2020. Published August 21, 2020.
A PayPal product marketed as consumer financing engaged in “aggressive” nonbank lending to student borrowers at exorbitant rates, helping to prop up for-profit schools that frequent the platform, consumer groups said.

Senators accuse Upstart, SoFi of discriminatory credit evaluation standards

July 31, 2020.
Three U.S. lawmakers accused fintechs including Upstart and SoFi of using credit assessment methods that could result in systemic racial discrimination, and called on the Consumer Financial Protection Bureau to curb those practices.