Connecticut issued a cease and desist order, alleging that Loansnap used unlicensed originators to solicit borrowers and accept loan applications in violation of multiple federal laws.

A second class action has been filed in the state of California and more cases are brewing.

Workers are eligible for the one-time cash grants if they earned a salary of less than $75,000 last year, and their total cash compensation was less than $85,000. The payments come amid a unionization push at the San Francisco-based megabank.

Submit your production volume from last year to be considered among the top in your field.

As regulators repeatedly press banks and fintechs to make sure their artificial intelligence models aren't "black boxes" and comply with existing law, the burden is on lenders to prove they are making such efforts.