By Jonathan Stempel

NEW YORK (Reuters) -The U.S. Consumer Financial Protection Bureau reached a $1.75 million settlement with MoneyLion to settle charges that the online lender overcharged military personnel on loans, in possibly one of the agency’s final actions as it winds down enforcement activity.

MoneyLion, a unit of Gen Digital, had been accused in a September 2022 lawsuit filed during the Biden administration of imposing more than the legally permitted 36% on loans to active service members and their families.

The CFPB said the overcharges combined interest rates and membership fees for a program to access low-cost loans, and MoneyLion did not let borrowers cancel memberships until their loans were paid off.

According to a Friday filing in Manhattan federal court, the payout wil

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