SoLo Funds Hit with Class Action Lawsuit Over Alleged Hidden Loan Fees Despite Zero-Interest Claims

SoLo Funds, a popular financial platform known for its peer-to-peer lending services, has come under legal scrutiny again as it faces a new class action lawsuit alleging deceptive practices in its loan fees structure. The lawsuit, freshly filed, claims that while SoLo advertises its loans as having zero interest fees, it subtly pushes borrowers towards opting for additional “tip fees” and “donation fees” to secure loans. These additional costs, according to the complainants, effectively make the loans more expensive than the consumers initially anticipate. The legal challenge adds to the company’s growing list of legal … Read more