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ARTICLE · 05 MARCH 2025

CFPB Drops Lawsuit Against Online Lender Following Litigation Freeze

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On February 23, the CFPB filed a joint stipulation in the United District Court for the Central District of California to dismiss its lawsuit against an online lending platform.

United StatesTechnology
A.J. Dhaliwal
A.J. Dhaliwal
Mehul Madia
Mehul Madia
Maxwell Earp-Thomas
Maxwell Earp-Thomas
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On February 23, the CFPB filed a joint stipulation in the United District Court for the Central District of California to dismiss its lawsuit against an online lending platform. The lawsuit, originally filed in May 2024, alleged that the platform misled borrowers about the total cost of its loans in violation of the Fair Credit Reporting Act (FCRA) and the Consumer Financial Protection Act (CFPA).

The dismissal follows a broader litigation freeze ordered by CFPB Acting Director Russ Vought (previously discussed here). The CFPB had previously sought a stay in the case against the online lending platform, but the U.S. district court judge denied the request, stating that there was "no good cause shown".

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