Overview
Enova International (NYSE: ENVA) is a Chicago-based fintech lender using machine learning and analytics to serve consumers and small businesses underserved by traditional banks. The company operates primarily as a nonbank lender, partnering with state-chartered banks to export interest rates from states without usury caps.
Recent Developments
- 2026-09-14: Withdrew Fed and OCC applications to acquire grasshopper-bank ($369M deal), citing unclear bank charter standards and “political pressure” from 20 state AGs and Senators Warren/Van Hollen (2026-09-15-enova-grasshopper-deal-canceled)
- CEO Steve Cunningham said Enova no longer depends on becoming a bank and will accelerate share repurchases
"Political pressure" is CEO framing; regulatory opposition centered on predatory lending and usury circumvention allegations.