Appendix B
Disclosures
Advertiser Disclosure
Offers for financial products that you may receive on Engine by MoneyLion’s platform are from companies in which Engine by MoneyLion, and its partners, receive compensation. This compensation may influence the selection, appearance, and order of appearance of offers. However, you are not charged a fee to request offers for financial products on Engine by MoneyLion’s platform. The offers presented to you on Engine by MoneyLion’’s platform, if any, will not include all available products or Financial Service Providers available. Engine by MoneyLion does not control, endorse, or guarantee any terms of service for third party linked sites and thus assumes no responsibility for your use of such sites.
Example 1: The screenshot below shows the placement of the Advertiser Disclosure on fiona.com.
Example 2: The screenshot below shows the placement of the Advertiser Disclosure on an embedded integration.
General Disclosures
ML Enterprise Inc. ("Engine by MoneyLion", "Engine”, “Even Financial”, “we”, “us”, “our”) is not a lender and we do not offer financial products directly. Engine by MoneyLion does not represent the Financial Institution Providers on our platform other than as a referral source and we do not endorse or recommend particular Financial Institution Providers or products. Engine by MoneyLion does not accept applications, make credit decisions, or guarantee a particular result from a financial product offer request. Any Financial Institution Provider will require you to submit an application to them for their consideration before extending a firm offer of credit. We do not issue loan approvals, loan commitments, or make any guarantees on behalf of any Financial Institution Provider and all rates, fees, and terms are presented without guarantee. Rates, fees, and terms are subject to change pursuant to each Financial Institution Provider’s discretion and may not be available in all states or for all types of financial products. You may receive loan offers that vary in amount from what you requested. We may also show offers for financial products that vary from the type you requested, such as debt relief, debt settlement, credit repair, or credit monitoring. Financial Institution Providers’ privacy policies and/ or security practices may differ from those of Engine by MoneyLion.
We do not connect you with every Financial Institution Provider in the market, so other Financial Institutions and financial products not listed on our platform may be available to you, subject to different terms and conditions, including lower rates. We cannot guarantee the lowest price or best terms available in the market. Your personal financial situation is unique, and it is your responsibility to evaluate the information and content provided before making any financial decisions.
We support the principles of the federal Equal Credit Opportunity Act (the “ECOA”). We do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to contract), the fact that all or part of the applicant’s income derives from a public assistance program, or the fact that the applicant has in good faith exercised any right under the Consumer Credit Protection Act. Similarly, we are committed to compliance with any applicable state and local anti-discrimination laws.
Annual Percentage Rate (APR) Disclosure
The Annual Percentage Rate (APR) is the rate at which your loan accrues interest. It is based upon the amount of your loan, the cost of the loan, term of the loan, repayment amounts, and timing of payments and payoff. By law, the lender or lending partner must show you the APR before you enter into the loan. States have laws that may limit the APR that the lender or lending partner can charge you. Rates will vary based on your credit worthiness, loan size, amongst other variables, with the lowest rates available to customers with excellent credit. Minimum and maximum loan amounts and APRs may vary according to state law and lender or lending partner. We recommend that you read the lender’s and/or lending partner’s personal terms and conditions in full before proceeding with any loan.
Offer Disclosure
If you did not receive an offer from a particular financial institution provider (lender), they may not have been able to determine whether you qualified for a financial product based on the information you provided. No credit decision has been made. You may still qualify for financial products from one of our Financial Institution partners (lenders).
Representative Example
If you borrow $5,000 with a 36 month repayment term, and a 10% APR, the monthly payment amount will be $161.34. Total repayment will be $5,808.24. Total interest paid will be $808.24.
Representative Example (Credit Cards)
If you have a $5,000 balance remaining at a 15% APR, your end of day balance would be $5,000 after the first day. Assuming no purchases or payments, your balance at the end of the second day would be $5000, plus $2.05 in interest that accrued on the previous day’s balance ($5000*(0.15/365)). This would repeat every day until the end of the billing period. If there are no fees or other charges, monthly repayment may be $5,061.50.
Example 3: The screenshot below shows placement of the General Disclosure, APR Disclosure, and Representative Example on an API Integration.
Example 4: The screenshot below shows the General Disclosure, APR Disclosure, and Representative Example on partner pages and embeds. These disclosures are behind the “Disclosures” link at the bottom:
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