OppFi Revenue Falls Amid Loan Origination Decline
The fintech firm reports lower third-quarter earnings while facing political scrutiny over its bank acquisition plans.
Updated on Oct. 28, 2026 in Investing
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OppFi reported a 3.8% decline in quarterly revenue as higher inflation and subdued consumer sentiment impacted its customer base. Loan originations also dropped 7% to $229 million during the third quarter.
Why it matters
The company is navigating a difficult economic environment while attempting to expand its infrastructure. Simultaneously, it faces significant pushback from federal lawmakers regarding its proposed acquisition of BNC Bank.
OppFi reported a 3.8% decline in quarterly revenue and a 7% decrease in loan originations, which totaled $229 million. The company has invested $35 million in its Lola operating infrastructure, which now handles 100% of net new volume.
The players
OppFi
A financial technology company that provides credit access to everyday consumers.
Chris Van Hollen
A United States Senator from Maryland who has expressed opposition to the BNC Bank acquisition.
Elizabeth Warren
A United States Senator from Massachusetts known for her focus on consumer financial protection.
BNC Bank
A financial institution that is the subject of a proposed $130 million acquisition by OppFi.
The details
OppFi implemented tighter borrower screening and is currently rebuilding its servicing infrastructure through the Lola platform. Meanwhile, U.S. Senators Chris Van Hollen and Elizabeth Warren have formally opposed the company's $130 million deal to purchase BNC Bank.
Timeline
October 2, 2026: An OppFi spokesperson defended the company's business model.
October 28, 2026: OppFi released its third-quarter earnings results.
Q4 2026: This serves as the target completion date for the BNC Bank acquisition.
2027: The company plans to roll out an earned wage access offering.
Q1 2027: This represents the potential spillover date for the BNC Bank acquisition.
Market Landscape
OppFi's proposed acquisition of BNC Bank subjects the company to the regulatory scrutiny defined by the Bank Holding Company Act. This move represents a shift toward vertical integration that has drawn significant attention from federal lawmakers.
Customers may experience stricter loan approval processes as OppFi implements tighter borrower screening. The company intends to expand its offerings with an earned wage access program by 2027, potentially providing new financial tools to its user base.
The takeaway
OppFi is balancing a tech-driven operational overhaul with a high-stakes banking acquisition strategy. Investors and customers should monitor the regulatory outcome of the BNC Bank deal, as it could fundamentally change the company's service capacity.
Further reading
For more information on market trends and corporate performance, visit the United States Investing section.
Source note: This article includes information reported by PYMNTS.
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