Our Lending Policy
At Covero, we are committed to responsible lending practices. We carefully review all network lenders to ensure fair customer treatment and adherence to all applicable lending laws.
TILA (Truth in Lending Act)
All practices on our platform comply with the Truth in Lending Act (TILA) and related lending laws. Borrowers must thoroughly review all loan terms before electronically signing any agreement, including all fees and penalties. If terms are not provided, borrowers should request them directly from the lender before proceeding.
Fair Lending
Fair lending means fair, equitable, and nondiscriminatory access to credit for all consumers, as defined by the Consumer Financial Protection Bureau (CFPB). If you encounter any problems with a loan obtained through our platform, you may file a complaint with the CFPB at consumerfinance.gov.
Collecting Debt Fairly
While Covero does not collect debt, all lenders in our network must follow the Fair Debt Collection Practices Act. This means lenders and their agents are prohibited from:
- Calling consumers between 9:00 p.m. and 8:00 a.m.
- Making inappropriate or harassing contact with consumers
- Using deceptive methods to collect debts
- Threatening unwarranted legal action
Reporting Scams
If you suspect you have been the victim of a lending scam, we encourage you to report it to protective agencies such as the Better Business Bureau or your state's Attorney General office. You can also contact us at support@covero.com for guidance.