Bay City News [BCN]. Pen 360 Press [P360P].
A federal judge on Monday refused to dismiss a class-action civil rights lawsuit against Social Finance Inc., or SoFi, a San Francisco-based online lending platform that allegedly denied loans to immigrants legally residing in the United States when they applied for a loan.
SoFi was founded in 2011 by a group of Stanford business school graduates to help people refinance student loans at lower rates.
Over the past few years, SoFi has expanded the services and products it offers to its more than 1.6 million members. SoFi's online platform offers members discounted loans, financial advice, and the ability to invest in stocks (including IPOs) and cryptocurrencies. Member benefits outlined on its website include: