{"id":642264,"date":"2024-10-22T23:13:32","date_gmt":"2024-10-22T20:13:32","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/lending-fintech-solo-funds-faces-class-action-lawsuit\/"},"modified":"2024-10-22T23:13:32","modified_gmt":"2024-10-22T20:13:32","slug":"lending-fintech-solo-funds-faces-class-action-lawsuit","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/lending-fintech-solo-funds-faces-class-action-lawsuit\/","title":{"rendered":"#Lending fintech SoLo Funds faces class action lawsuit"},"content":{"rendered":"<div>\n<p id=\"speakable-summary\" class=\"wp-block-paragraph\">SoLo Funds is facing a new class action lawsuit <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.documentcloud.org\/documents\/25246149-danielle-cofield-v-solo-funds-inc\">according to a copy<\/a> seen by TechCrunch and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-22\/solo-funds-faces-claims-of-hidden-fees-trail-of-lawsuits-follow\">first reported by Bloomberg<\/a>.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">It accuses SoLo Funds of misleading consumers by advertising zero interest fees on loans yet encouraging \u201ctip fees\u201d and \u201cdonation fees\u201d to obtain said loans. The complaint alleges these are hidden fees that the company makes hard to opt out of, making their loans more expensive than borrowers expected.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">As TechCrunch previously reported, the company has been sued by Connecticut, California, and the Consumer Financial Protection Bureau (CFPB). In May, the CFPB alleged the company used \u201cdigital dark patterns\u201d to mislead consumers and illegally take fees, despite advertising there were no fees. SoLo Funds settled these earlier suits with all but the CFPB.<\/p>\n<p class=\"wp-block-paragraph\">SoLo has raised at least $13 million, according to Crunchbase, from backers like Serena Williams, Alumni Ventures, and Techstars. SoLo Funds declined comment.<\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN63nwsw68G3Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more like this article, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/technology\/\" target=\"_blank\" rel=\"noopener\">Technology<\/a><\/span> category.<\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/techcrunch.com\/2024\/10\/22\/lending-fintech-solo-funds-faces-class-action-lawsuit\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SoLo Funds is facing a new class action lawsuit according to a copy seen by TechCrunch and first reported by Bloomberg.\u00a0 It accuses SoLo Funds of misleading consumers by advertising zero interest fees on loans yet encouraging \u201ctip fees\u201d and \u201cdonation fees\u201d to obtain said loans. The complaint alleges these are hidden fees that the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":642265,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/techcrunch.com\/wp-content\/uploads\/2023\/05\/GettyImages-172276209.jpg?resize=1200,800","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-642264","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/642264","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=642264"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/642264\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/642265"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=642264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=642264"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=642264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}