December 07, 2023 BY Simon Mugo
SoFi Technologies Agrees To Pay FINRA Fine, Compensate Clients
From January 2019 to March 2023, SoFi was found lacking in effective supervisory systems. This oversight led to the automatic inclusion of over two million clients in its fully paid securities lending program, conducted without obtaining necessary consent or ensuring full disclosure. Moreover, SoFi was responsible for circulating misleading materials about the rewards customers would…
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