Complaints charging two lenders with anti-Black business practices raise questions about growing industry sector.
Co-published by Fast Company /
Oportun has managed to operate profitably while making a dent in a difficult-to-serve market – the 45 million people that the Consumer Financial Protection Bureau identifies as having little-to-no credit history. BY JESSICA GOODHEART
“How do you spell your name?” asked the beltway woman staring at her laptop in the lobby of a lavish Southern California resort. Was she Googling me? I tried not to panic. Instead, playing up the jetlag, I quipped that I really did know my name by heart and gave her one of my business cards that said I was a consultant. Then I realized she was typing my name to put on my badge. Casually she handed me my lanyard, schedule and swag bag.
I was in!
Why are reporters barred from attending the Community Financial Services Association of America (CFSA) annual conference? Why all the secrecy? The organization says full disclosure and transparency are part of their best practices – but no media or streaming are allowed at its annual shindig. This is a $46 billion dollar industry based on subprime (they now call it nonprime) customers —