OppFi’s Banking Ambitions Opposed By Senate Democrats
By PYMNTS
Source excerpt · PYMNTS
Two U.S. Senators are opposing OppFi’s attempt to acquire a national bank. Democrats Chris Van Hollen of Maryland and Elizabeth Warren of Massachusetts wrote to the company last week to voice their opposition, arguing that OppFi’s business model is based on “predatory lending practices,” such as triple-digit interest rates. “OppFi—a nonbank lender that provides financial […] The post OppFi’s Banki…