DC sues online lender over 'predatory' loan scheme—but experts say these are increasingly common
June 15, 2020 at 11:49 AM EDT
The attorney general for the District of Columbia filed a lawsuit on Friday, June 5, against online lender Elevate to protect residents from "predatory, high-cost loans." It's just the latest salvo in an ongoing battle between consumer advocates and lenders around short-term, unsecured loans that opponents argue can be overly expensive and risky.
