MoneyLion Technologies Inc., ML Plus, LLC, and other subsidiaries
On September 29, 2022, the Bureau filed a lawsuit against MoneyLion Technologies Inc. (MoneyLion), ML Plus, LLC, and 37 MoneyLion lending subsidiaries. The Bureau filed a first amended complaint on June 13, 2023 and a second amended complaint on April 22, 2025. MoneyLion is a fintech company (formerly known as MoneyLion Inc.) that offers online installment loans and other products to consumers through its lending subsidiaries and membership programs through its subsidiary ML Plus. The Military Lending Act (MLA) contains a number of protections for active-duty servicemembers and their dependents, defined as “covered borrowers.”
The Bureau alleged that MoneyLion and its lending subsidiaries violated the MLA by, among other things, charging covered borrowers annual percentage rates that exceeded the allowable rate under the MLA and failing to make required disclosures. The Bureau also alleged that MoneyLion, its lending subsidiaries, and ML Plus violated the Consumer Financial Protection Act of 2010 by misrepresenting that covered borrowers owed loan payments and associated fees that they did not in fact owe because loan contracts were void from their inception; not permitting consumers with unpaid loan balances to exit the membership program; and continuing to charge and collect monthly membership fees after consumers had asked to cancel their memberships or terminate ACH-fee withdrawals.
On November 21, 2025, the Bureau and all defendants jointly filed a proposed stipulated final judgment and order to resolve the Bureau’s claims, which the court entered on November 24, 2025. The stipulated final judgment and order, among other things, requires the defendants to pay $1.75 million in consumer redress.
Related Documents
Stipulated Final Judgment and Order
Press Release
CFPB Sues MoneyLion for Overcharging Servicemembers and Trapping Consumers in Costly Memberships