“The order would also impose a $100,000 civil money penalty based on LendUp’s demonstrated inability to pay.”
LendUp sold small high-cost loans as a ladder to better credit. Climb it by paying on time and the rates drop. For tens of thousands of borrowers they didn’t. Google Ventures, Andreessen Horowitz and Kleiner Perkins funded it. The fine is $100,000 because there’s nothing left to take, and the investors walk away clean.