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Maryland regulators investigating online lending marketplace started by Baltimore native

December 13, 2023

Maryland regulators are investigating whether SoLo Funds Inc., a fast-growing online lending marketplace started by a Baltimore native, charges excessive interest rates and late charges and failed to disclose finance charges. The Office of Financial Regulation, part of the state Department of Labor, Licensing and Regulation, has ordered the peer-to-peer platform to stop offering products to consumers in Maryland pending the outcome of the case.

Article Source: Baltimore Sun

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