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The proposed class action suit claims the fintech lender purposefully pushed customers applying for HELOC loans into higher rates, or misrepresented rates at the beginning.
Founded in 2018, Figure is a new lender that provides home equity lines of credit (HELOCs) in 41 states and the District of Columbia.
Figure Technology Solutions, the parent company of Figure Lending LLC, named Michael Tannenbaum as its new CEO.
The first partner to sign onto the new initiative is Synergy One Lending, according to an announcement from Figure.
Figure Technology Solutions took another step this week to become a public company by filing a key form with the SEC.