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Violation Tracker Individual Record

Company: SoLo Funds Inc.
Penalty: $30,000
Year: 2023
Date: May 10, 2023
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: Attorney General Brian L. Schwalb announced a settlement with SoLo Funds Inc. (SoLo), an online fin-tech platform that facilitates and advertises loans to District consumers, which resolves allegations that SoLo deceived consumers about the true cost of the loans on its platform and facilitated loans with over 500% APR on average,far exceeding the District's 24% usury cap.
Level of Government: state
Action Type: agency action
Agency: District of Columbia Attorney General
Civil or Criminal Case: civil
Facility State: District of Columbia
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.