Re:Regulators Shut Down Lending Platform (YC Alum) LendUp
by actually_a_dog on Thursday December 23, 2021 @01:13AM
(#29659164)
I'm going to say I don't believe this is true. However, I don't know for sure, and I also don't know the magic words to google to verify or disprove this. Can anybody point me to info on the web, or some of those magic words?
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Re:Regulators Shut Down Lending Platform (YC Alum) LendUp
by rootusrootus on Thursday December 23, 2021 @11:08PM
(#29670063)
I do not really know exactly how to cite US code correctly, so I will just get you close enough to do a text search:
Go here: https://www.law.cornell.edu/uscode/text/15/1681c
Search on that page for "Exempted Cases"
All of the language about how long negative information can be shown on a credit report is exempted when the loan principle is $150K or greater.