First Possible Tech IPO of Year: Elevate Pushes Predatory Long-Term Payday Loans
Consumer Advocates Question High Charge-Offs, 200% Interest Rates, and Borrowers’ Ability to Pay Consumer advocates criticized the high interest rates and high charge-offs of Elevate Credit, Inc. (Elevate), the online lender scheduled for the first tech initial public offering of 2016. "Elevate's loans have an average APR of nearly 200%, and a huge number of its borrowers default on their...