San Antonio Current, January 8, 2021, A lender sued thousands of lower-income Latinos during the pandemic. Now it wants to be a national bank.
Dozens of consumer advocacy organizations and Latino civil rights groups are contesting an effort by Oportun Financial Corp. to become a national bank, citing an investigation published last year by ProPublica and The Texas Tribune.
In its own letter, the National Community Reinvestment Coalition said Oportun’s debt collection practices “fall short of the expectations of a CDFI, and certainly a CDFI seeking a national bank charter.”
