Online lender faces scrutiny in CFPB loan processing

By Jon Hill (October 29, 2021, 7:59 p.m. EDT) – Online lender Enova International Inc. told investors on Friday that its loan processing was under investigation by the Consumer Financial Protection Bureau.

In a quarterly securities filing, Chicago-based Enova said it recently received a request for a civil investigation from the CFPB into what the company called “certain loan processing issues”, although it did not clarified what these problems are.

Enova said it has cooperated with the CFPB and expected to be able to close the investigation “quickly”, noting that several of the issues have been reported to the CFPB and consumers are already being reimbursed.

“We have provided and will …

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