Public records show one federal Foundation Finance lawsuit and one state regulatory action against the Wisconsin-based home improvement lender: a 2025 consumer-credit case filed in Michigan that was dismissed after settlement, and a 2022 Connecticut Department of Banking consent order that resulted in a $10,000 civil penalty for operating from an unlicensed location. The company’s broader legal footprint is modest for a lender of its size, though consumer reviews point to recurring friction over interest terms and contractor work.
Jones v. Foundation Finance Company (2025)
In April 2025, Michigan consumer Cynthia Jones sued Foundation Finance along with Capital One, N.A. and Michigan First Credit Union in the U.S. District Court for the Eastern District of Michigan. The case was docketed as No. 2:25-cv-11053 before Judge Mark A. Goldsmith and categorized under “Consumer Credit” statutes. The specific allegations were not detailed in the publicly available docket entries.1PACER Monitor. Jones v. Foundation Finance Company, LLC et al
Foundation Finance moved to dismiss on May 12, 2025, and Michigan First Credit Union filed a motion to compel arbitration the same day. Jones filed an amended complaint on May 27, 2025, which mooted both motions.2CaseMine. Cynthia Jones v. Foundation Finance Co., LLC, et al. Settlement followed quickly. Foundation Finance filed a notice of settlement on June 17, 2025, and was dismissed with prejudice by stipulated order on July 24, 2025. Capital One was separately dismissed with prejudice in October 2025. The remaining claims were closed without prejudice on January 6, 2026, after Jones failed to respond to a show-cause order.1PACER Monitor. Jones v. Foundation Finance Company, LLC et al
A corporate disclosure in the case identified Foundation Finance’s parent as Fulcrum Acquisition Holdings SPV LLC, registered at the same Rothschild, Wisconsin address as Foundation Finance.3Florida Division of Corporations. Foundation Finance Company LLC Corporate Filing
Connecticut Department of Banking Consent Order (2022)
The Connecticut Department of Banking opened an examination on May 29, 2020, and the Banking Commissioner later alleged that Foundation Finance had operated as a sales finance company in Connecticut from an unlicensed location between January 2019 and August 2020, in violation of Section 36a-536 of the Connecticut General Statutes.4Connecticut Department of Banking. Foundation Finance Company LLC Consent Order
The matter was resolved by Consent Order dated December 21, 2022. Foundation Finance neither admitted nor denied the allegations, paid a $10,000 civil penalty and $400 in back licensing fees, and represented that it had updated its internal policies, procedures, and controls to meet state licensure requirements going forward. The order was signed by Banking Commissioner Jorge L. Perez and Foundation Finance CEO Alex Mladek.4Connecticut Department of Banking. Foundation Finance Company LLC Consent Order
No enforcement actions against Foundation Finance appear in the records of the Wisconsin Department of Financial Institutions, the company’s home-state regulator.5Wisconsin Department of Financial Institutions. Enforcement Administrative Orders
What Customers Complain About
Foundation Finance holds a 1.86 out of 5 star customer review rating on its Better Business Bureau profile, based on 78 reviews. Common grievances fall into a few recurring categories: confusion over interest accrual and simple-interest calculations, frustration with “same-as-cash” promotional terms that expired before balances were paid off, and dissatisfaction with the contractors whose work the financing paid for. In its responses, the company repeatedly explains that it is an “indirect consumer finance company” that takes assignment of retail installment contracts from contractors and does not perform the home improvement work itself.6Better Business Bureau. Foundation Finance Company LLC Customer Reviews
The Consumer Financial Protection Bureau’s complaint database, by contrast, shows zero recorded complaints against Foundation Finance Company LLC between March 2023 and March 2026.7Consumer Financial Protection Bureau. Consumer Complaint Database Many borrowers appear to direct their complaints at the contractor or the BBB rather than filing through the federal portal.
Foundation Finance has described its own risk-mitigation approach as including a 24-to-48-hour contractor vetting process that checks certifications and legal standing, along with verification calls to confirm that work has been completed satisfactorily before final payment is released to the contractor.8Foundation Finance Company. Contractor Complaints on the Rise
About the Company
Foundation Finance was founded in 2012 and provides consumer financing for home improvement projects — primarily windows, roofing, and HVAC systems — structured as retail installment contracts rather than traditional loans. It partners with over 9,000 contractors nationwide, giving them point-of-sale financing tools to offer customers at the time of purchase. In September 2022, New York-based specialty finance firm InterVest Capital Partners (formerly Wafra Capital Partners) acquired the company from Garrison Investment Group.9Foundation Finance Company. InterVest Capital Partners Acquires Point-of-Sale Financing Provider Foundation Finance
The company is led by CEO and co-founder Alex Mladek and operates under NMLS number 916914, with licenses that include a California DFPI license.10Foundation Finance Company. Our Team11Foundation Finance Company. Foundation Finance Company Home