LendUp
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
LendUp Loans offered online single-payment and instalment consumer loans.
02 / LendUp FAILURE REASONS
Failure reasons
A settlement order prohibited further consumer-credit business after the regulator alleged repeated misleading loan-benefit claims and violations of its earlier order. The lending shutdown followed that binding restriction; agreement to the settlement is not treated as an admission of every allegation.
03 / EVENT HISTORY
Events in the structured record
- Earlier regulatory order
A regulator order addressed misleading claims about loan benefits.
- Further lawsuit filed
In September the regulator filed a further action alleging continued violations.
- Settlement order entered
On 30 December the court entered an order prohibiting lending and specified collection activities.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Regulator alleged continued violations of earlier order
- 02
Further enforcement lawsuit
- 03
Settlement imposed binding restrictions
- 04
Lending operations prohibited