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Business ProfileforCredova Financial LLC
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The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
On January 9, 2024, before the Department of Financial Protection and Innovation of the State of California, the Commissioner of Financial Protection and Innovation and Credova Financial, LLC entered into a Consent Order.
Credova is an internet-based platform that allows merchants to offer installment contracts to its customers. Credova contracts with a third-party servicer for all installment contracts originated on its online platform. The third-party servicer charges convenience fees when consumers choose to pay their installments online or over the phone.
According to the consent order, Credova was aware of the potential convenience fees but failed to disclose information regarding the fees when consumers entered into the installment contracts. The Commissioner determined that failing to disclose potential convenience fees before consumers enter into these financing contracts is deceptive and therefore violates the CCFPL.
The consent order requires Credova to pay a $50,000 penalty and disclose potential third-party convenience fees to consumers in the future.
For more information, please contact the State of California Department of Financial Protection and Innovation at https://dfpi.ca.gov/ or by calling toll-free at (866) 275-2677.
At-a-glance
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Business Details
- Headquarters
- Bozeman, MT 59715-2880
- BBB File Opened:
- 3/18/2022
- Years in Business:
- 5
- Business Started:
- 12/1/2018
- Licensing Information:
- This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
- Type of Entity:
- Limited Liability Company (LLC)
Customer Complaints
140 Customer Complaints
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File a ComplaintMost Recent Customer Complaint
07/11/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
Customer Reviews
943 Customer Reviews
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Most Recent Customer Review
George H
07/25/2024
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