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Cash-advance app Earnin changes its tune amid NY probe

Cash-advance app Earnin changes its tune amid NY probe

Popular cash loan application Earnin operating in cash advance ‘gray area,’ experts claim

A cash-advance application supported by rapper Nas is scrambling to flee heat that is regulatory issues so it is doing unlawful payday lending within the ny, The Post has discovered.

Earnin, a Silicon Valley startup whose investors have capital raising company Andreessen Horowitz, quietly disabled a feature that is controversial ny users that links the dimensions of its loans to voluntary “tips,” according to sources near the situation.

The recommendations — which could extend up to $14 on a $100 loan that is weekly are much like the crippling annualized portion rates which have gotten pay day https://badcreditloans4all.com/payday-loans-ut/magna/ loans prohibited in 15 states including nyc, experts say. Continue reading Cash-advance app Earnin changes its tune amid NY probe