You understand and acknowledge that this EMGC Digital LLC (collectively, “EMGC”, “us”, “we”, or “our”) Fair Lending Policy (“Policy”) is intended to be read along with the Terms and Conditions and Privacy Policy of this website. The purpose of this Policy is to furnish you with important information concerning your rights as a consumer and certain practices that our Service Partners may engage in. This Policy is NOT legal advice and should not be construed as such. Please address any questions or concerns you have regarding your loan or loan offer(s) with the relevant lender(s) directly.
EMGC Digital LLC is not a lender and is not a party to any loan or other transaction. We do not broker loans, and we do not make loans or credit decisions. Our service submits the information you provide to us to our Service Partners in our network. These Service Partners may use a “soft pull” credit check to assess your eligibility for a loan and may provide loan offers. We seek to work only with compliant Service Partners who have policies to protect consumers against fraudulent, deceptive, abusive, or misleading lending practices.
More information about how our Service Partners assess your eligibility for a loan is available in our Terms and Conditions. The loan amount of any loan offer that is made will vary depending on the lender, your creditworthiness, and any applicable state laws or regulations. There is no guarantee that you will be presented with any loan offers, or that you will qualify for any rates, fees, or terms displayed on this website. If you do receive a loan offer from one of our Service Partners, you must review the terms and conditions of the lender very carefully before proceeding with a loan application. If you proceed with a loan application with a lender, you may be subject to a full “hard pull” credit check.
We encourage any consumer who feels that their lender has violated any law or regulation to file a complaint with the Consumer Finance Protection Bureau or any other applicable government agency. The following are certain laws that are designed to protect consumers:
Fair Credit Reporting Act (FCRA). The Act (Title VI of the Consumer Credit Protection Act) protects information collected by consumer reporting agencies such as credit bureaus, medical information companies and tenant screening services. Information in a consumer report cannot be provided to anyone who does not have a purpose specified in the Act. Companies that provide information to consumer reporting agencies also have specific legal obligations, including the duty to investigate disputed information. In addition, users of the information for credit, insurance, or employment purposes must notify the consumer when an adverse action is taken on the basis of such reports. Under the FCRA, consumers have the right to: (i) know the information within their credit file, (ii) be informed if information in their file has been used against them; (iii) dispute incomplete or erroneous data in their file; (iv) receive one disclosure at no cost every 12 months upon request from each nationwide credit bureau and from nationwide specialty consumer reporting agencies; (v) request a credit score from consumer reporting agencies for a fee; (vi) limit access the consumer’s file to people with a valid need for access; and (vii) limit unsolicited offers of credit and be provided with opt out rights of such communication.
The Truth in Lending Act (TILA). The Truth in Lending Act (TILA) protects you against inaccurate and unfair credit billing and credit card practices. It requires lenders to provide you with loan cost information so that you can comparison shop for certain types of loans. This act also provides consumers the right to withdraw from certain loans, provides a means to resolve credit billing disputes and regulates certain credit card practices. The act does not mandate the charges that may be imposed for consumer credit transactions. The lenders in our network are required to provide consumers with clearly written and easily discernible interest rates, late fees, and any other charges that may be connected with their loan before any loan agreement is fully executed.
Americans with Disabilities Act (ADA). The ADA is a civil rights law that prohibits discrimination against individuals with disabilities in all areas of public life, including in terms of access to services offered by private businesses. The purpose of the law is to make sure that people with disabilities have the same rights and opportunities as everyone else.
The Equal Credit Opportunity Act (ECOA). The Equal Credit Opportunity Act (ECOA) prohibits discrimination in any aspect of a credit transaction. It applies to any extension of credit, including extensions of credit to small businesses, corporations, partnerships, and trusts. Discrimination based on race or color, marital status, religion, nationality or national origin, gender, age, income derived from public assistance programs, and the applicant’s exercise of any right under the Consumer Credit Protection Act is prohibited.
Annual percentage rate (APR) refers to the yearly interest generated by a sum that's charged to borrowers. APR is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan. This includes any fees or additional costs associated with the transaction. The APR provides consumers with a bottom-line number they can compare among lenders, credit cards, or investment products. We cannot guarantee any APR since we are not a lender ourselves.
Because we are not a lender, we are not involved in any debt collection practice and cannot predict what collections practices your lender may engage in. Your lender will explain their specific collections practices in your loan agreement. We seek to work only with responsible lenders who adhere to fair and responsible debt collections practices that are compliant with the Fair Debt Collection Practices Act (FDCPA), which is enforced by the Federal Trade Commission (FTC). The FDCPA forbids debt collectors and collection attorneys from using misleading tactics, harassment, and other unethical practices in an effort to collect uncollected debts. The FDCPA specifiies hours of the day in which consumers may be contacted. Usually, the FDCPA does not apply to first party creditors although some states have passed their own laws similar to the FDCPA that may apply to first party creditors. Some of our Service Partners may collect their own debts and therefore may be subject to state lending or debt collection regulations, but not the full FDCPA. If a lender violates a debt collection law or regulation, we encourage consumers to report the violation to the FTC. Please contact your lender directly with any questions or concerns regarding their collections practices.
We have a Service Partner due diligence process in place to help ensure that our Service Partners are abiding by applicable state and federal laws and regulations. However, we are not responsible for any actions conducted from sources outside of our control. Certain states may have their own regulations relating to lending, including laws concerning interest rate limitations, refinance terms, fees, loan terms, recission periods, and more. While we have policies and procedures in place to ensure our Service Partners comply with federal and state regulations, every consumer must carefully review their loan offer prior to deciding whether or not to accept it. This includes a complete understanding of the federal and state laws and regulations that apply to the transaction.
By agreeing to the terms and conditions of a loan agreement, you are entering into an agreement to repay the amount you have borrowed, as well as any interest or other fees, according to the payment schedule specified in the loan agreement. If you fail to make any payment as scheduled, you may incur additional charges/fees. Late payment and other penalties vary with each lender. Because we do not make lending decisions and are not involved in the lending process, we cannot predict what fees you may incur if a default occurs. Please contact your lender directly if you have any questions or concerns about repaying your loan.
