Firm that Makes Personal Loans to Pay $20 Million After Deceptive Claims
- CFPB says personal loan installment lender deceived customers
- OneMain doesn’t agree with CFPB findings; will issue refunds
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US regulators ordered OneMain Holdings Inc. to pay $20 million in redress and penalties, saying the personal loan installment lender deceived customers into taking on additional products and withheld interest from them.
OneMain will pay $10 million to refund customers and $10 million to the Consumer Financial Protection Bureau’s relief fund, according to a statement from the agency.