Inside BOFI’s Undisclosed Exposure to Subprime ‘Fintech’ Pay day loan

Inside BOFI’s Undisclosed Exposure to Subprime ‘Fintech’ Pay day loan

Bottom line

  • Most traders continue steadily to sooner or later get me wrong the amount to help you hence BOFI happens to be a primary financier out-of non-bank loan providers.
  • BOFI keeps covertly obtained contact with subprime “fintech” cash advance pools. The lending company might have been financial support Elevate Credit, an on-line driver which was spun faraway from this new very controversial ThinkFinance.
  • Data make sure BOFI possess funded no less than $44.5 million away from Elevate’s subprime finance which is higher than the bank’s premier unveiled financing dating. (more…)

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