Information and Alerts
Alert Details
This business has 1 alert.
Government Actions
The Commissioner of Business Oversight of the State of California v. rateGenius, Inc.
The following describes a government action that has been resolved by either settlement or a decision by a court or administrative agency.
On December 21, 2018 rateGenius entered into a consent order with the Commissioner of Business Oversight of the State of California. Allegations include rateGenius formed a subsidiary, rateGenius Loan Services, Inc. (RGLS), which did business using "rateGenius." The Commissioner found license transfer violations including from inception, RGLS carried out all critical brokering functions on behalf of rateGenius in connection with the rateGenius Platform. RGLS operated from rateGenius's CRL-licensed location, RGLS never held a California Financing Law license. Additionally rateGenius never obtained writtten authorization from the Commissioner for RGLS to operate from RateGenius's licensed place of business.
The Consent Order resolves the violations before the Commissionier as rateGenius agrees to refund certain borrowers from auditing their files and identifying California-resident borrowers who obtained a loan between January 1, 2013 and December 31, 2017. rateGenius will pay refunds totaling $233,352 to their borrowers, rateGenius will pay each borrower who did not already receive a prior refund. rateGenius will submit a report to the Commissioner detailing the refund population and prior refunds prior to the execution of the Consent Order.
For more details go to http://dbo.ca.gov.
Important Information
This business is BBB Accredited.
BBB has determined that RateGenius meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.
BBB accreditation does not mean that the business's products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business's product quality or competency in performing services.
Service Area
- BEXAR County, TX
- Adkins, TX
- Alamo Heights, TX
- Atascosa, TX
- Balcones Heights, TX
- Castle Hills, TX
- China Grove, TX
- Converse, TX
- Elmendorf, TX
- Grey Forest, TX
- Helotes, TX
- Hill Country Village, TX
- Hollywood Park, TX
- Joint Base San Antonio (Randolph), TX
- Kirby, TX
- Leon Valley, TX
- Live Oak, TX
- Macdona, TX
- Olmos Park, TX
- Saint Hedwig, TX
- San Antonio, TX
- Saspamco, TX
- Security Services, TX
- Shavano Park, TX
- Somerset, TX
- Terrell Hills, TX
- Universal City, TX
- Von Ormy, TX
- Wetmore, TX
- Wilford Hall, TX
- Windcrest, TX
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