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Violation Tracker Individual Record

Company: SoLo Funds, Inc.
Penalty: $208,172
Year: 2024
Date: July 2, 2024
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: SoLo agreed to pay over $208,000 to resolve allegations it deceptively led borrowers to believe that they were obtaining interest-free loans while actually subjecting borrowers to outrageously inflated interest rates. Under the settlement, the company will pay restitution in the amount of $158,000, civil penalties in the amount of $25,000, and costs of investigation totaling $25,171.51.
Level of Government: state
Action Type: agency action
Agency: Pennsylvania Attorney General
Civil or Criminal Case: civil
Facility State: Pennsylvania
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.