Regulatory Alerts2025-09-12
Added · Updated
Consent Order Regarding Fresh Start Funding, LLC d/b/a Open Wallet
Fresh Start Funding, LLC d/b/a Open Wallet must cease and desist from extending small loans to Connecticut borrowers without a license and remit $1,200 in back licensing fees. The entity is required to limit finance charges on existing small loans to 12% APR and submit annual financial statements by July 1 of 2026, 2027, and 2028. A $10,000 civil penalty is temporarily stayed for three years, becoming due if the company becomes able to pay or if material misstatements are discovered in its financial disclosures.
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