… Horacio Mendez, president and CEO of the Woodstock Institute, a nonprofit policy group that advocates for fair lending and economic equality, said that, in the past, many bureau investigations ended in settlements that he and other advocates believed were too lenient to change behavior.

“What they showed us before is that the drive for profitability often overrides ethical behavior,” Mendez said of Oportun. “And the fact that they were a CDFI and did that, it was an extra cross in their obituary.”

Read the report