Peter Mask

Fintech upstart LendUp was fined by the buyer Monetary Safety Bureau and a California state regulator over widespread violations of payday- and installment-lending legal guidelines.

The San Francisco-based mostly lender, which focuses on small-dollar loans to dangerous borrowers, agreed to pay $2.7 million in a settlement Tuesday with the California Division of Enterprise Oversight. That was for what the state regulator mentioned had been unlawful charges the corporate charged borrowers and for understating annual share charges on some loans as...