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/PRNewswire/ -- CardWorks, Inc. ("CardWorks") announced that in conjunction with its equity investment in GreenSky Holdings, LLC ("GreenSky"), its wholly-owned...
Consumer Financial Protection Bureau Targets GreenSky for Unauthorized Loans to Consumers The Consumer Financial Protection Bureau (CFPB) has taken action against GreenSky, LLC for “enabling contractors and other merchants to take out loans on behalf of thousands of consumers who did not request or authorize them,” according to a statement from the Bureau. The CFPB has issued a consent order against GreenSky requiring the company to refund or cancel up to $9 million in loans, pay a $2.5 million civil penalty, and implement new procedures to prevent future fraudulent loans. CFPB Acting D...