Enova, a leading US licensed lender, has been fined $15 million by the Consumer Financial Protection Bureau (CFPB) for numerous violations, including attempting to withdraw funds from customers' bank accounts without consent, canceling loan extensions that were previously promised, and deceiving customers with false statements. These violations show a continuation of the firm’s illegal practices even after they were ordered by the CFPB to make changes. The company reports having served nine million customers and having funded $52 billion in loans, operating in 37 states through its CashNetUSA and NetCredit-branded subsidiaries. While the CFPB asserts these errors were intentional attempts to break the law, Enova claims they were merely unintended computer and system errors. However, since no regulatory standard for assurance exists, any errors, even if they are rare or minor, can be deemed an offense. Enova has mentioned providing compensation to affected customers, but the ultimate goal should be to work towards preventing future occurrences.



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