2023-03-28 16:19:26 ET
- Consumer Financial Protection Bureau notified Opurtun Financial ( NASDAQ: OPRT ) that its investigation into the company has been completed and the its staff will not recommend an enforcment action against the fintech, the company said Tuesday.
- The CFPB had been evluating Oportun's ( OPRT ) legal collection practices from 2019 to 2021, along with its hardship program during the COVID-19 pandemic.
- As it has maintained through the CFPB review, Oportun ( OPRT ), which operates a digital banking platform, said it continues to believe that its business practices have been in full compliance with applicable laws.
- Oportun Financial stock gained 4.8% in Tuesday trading.
- Earlier this month, the company's Q4 non-GAAP EPS missed the consensus estimate, while Q4 revnue beat.
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Oportun gets notice that CFPB probe ends; no enforcement action recommended