ENOVA INTERNATIONAL INC

Enova International operates an online lending platform that extends high-cost installment loans and lines of credit, primarily to subprime borrowers. The company's business model is predicated on extracting fees and interest from financially vulnerable consumers.

On November 15, 2023, the Consumer Financial Protection Bureau fined Enova $15 million for being a repeat offender, having violated a prior 2019 order. The CFPB found Enova continued to debit or attempt to debit consumers' bank accounts without their permission, a practice known as "unauthorized withdrawals." The company had previously paid a $3.2 million penalty in 2019 and was ordered to cease this illegal conduct. This pattern of regulatory violations demonstrates a systemic business practice of exploiting customer accounts. The CFPB's 2023 action also cited Enova for deceiving customers about loan extensions and for failing to provide required privacy notices.