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Baltimore mayor sues MoneyLion over alleged cash-advance lending scheme

Baltimore Mayor Brandon Scott
Baltimore Mayor Brandon Scott says users were trapped in a cycle of debt. Photo: Alex Wong/Getty Images

Catherine Ollinger

1 min read
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The Maryland city claims that the fintech preyed upon some of its most vulnerable residents.

Baltimore City Mayor Brandon Scott announced a lawsuit on Monday against MoneyLion Technologies, alleging the company leveraged an exploitative lending scheme that left users in debt.

The plaintiff claims that MoneyLion violated the city’s Consumer Protection Ordinance (CPO) with misleading marketing and manipulative tactics that encouraged consumers to take out

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