Oportun is a California-based financial services provider that is rapidly expanding its reach. In some states, Oportun has announced its loans will be originated by MetaBank, indicating it is employing the “rent-a-bank” scheme, wherein lenders pay a bank with a national charter that is willing to pose as the lender so they can avoid having to comply with state consumer protections. Oportun had applied for a national charter of its own, but withdrew the application amid public scrutiny of its practices.

Oportun has secured endorsements from influential Latino organizations in states where it operated previously, but a history of abusive debt collection practices has become clear, especially in California and Texas. While it has made promises to reform those practices, they have so far continued.