ML Enterprise Inc., which operates the consumer finance marketplace Engine by MoneyLion and the loan comparison website Fiona.com, has agreed to pay a $10,000 civil penalty to Connecticut after regulators found the company had brokered small loans in the state without a license. The consent order, issued May 20 by Banking Commissioner Jorge L. Perez, […]
ML Enterprise Inc., which operates the consumer finance marketplace Engine by MoneyLion and the loan comparison website Fiona.com, has agreed to pay a $10,000 civil penalty to Connecticut after regulators found the company had brokered small loans in the state without a license.
The consent order, issued May 20 by Banking Commissioner Jorge L. Perez, covers activity that took place before Feb. 1, 2021. During that period, ML Enterprise was connecting Connecticut borrowers with small loan lenders without holding the state license required to do so, in violation of Connecticut’s small loan statutes, the order states.
The company, formerly known as Even Financial Inc., applied for a small loan company license in Connecticut in January 2020 but withdrew the application two months later.
ML Enterprise, a Delaware corporation based in New York, has never made small loans directly to Connecticut borrowers or collected payments on them, according to the order. It did not provide small loan records to regulators as part of the investigation, and as of May 2025, the company had ceased all small loan brokering activity in the state.
ML Enterprise neither admitted nor denied the allegations but agreed to comply with Connecticut’s small loan licensing requirements going forward. The consent order was signed by Adam VanWagner, the company’s vice president and secretary.
