Consumer Financial Protection Bureau
CFPB v. FirstCash, Inc.
Settled$4MFineFiled: November 11, 2021
FirstCash, Inc. and its subsidiaries allegedly made pawn loans to active-duty servicemembers and their dependents that violated the Military Lending Act (MLA). According to CFPB, the violations include: pawn loans to borrowers covered under the MLA with rates that exceeded the MLA’s maximum allowable annual percentage rate of 36%; using loan agreements requiring arbitration in the case of a dispute; and not making required loan disclosures. The Bureau also alleged that the alleged violations of the MLA were violations of a 2013 Bureau order against a predecessor entity, Cash America International, Inc.
Summary generated from official Consumer Financial Protection Bureau press release
Source: Consumer Financial Protection Bureau Press Release ↗Parties
Defendants / Respondents
- FirstCash, Inc.
- FCFS AL, Inc.
- Cash America East, Inc.
- Cash America Inc. of Alaska
- Georgia Cash America, Inc.
- FCFS IN, Inc.
- FCFS TN, Inc.
- FCFS OH, Inc.
- FCFS KY, Inc.
- Cash America, Inc. of Louisiana
- FCFS MO, Inc.
- Cash America of Missouri, Inc.
- Cash America, Inc. of North Carolina
- FCFS NC, Inc.
- FCFS OK, Inc.
- FCFS SC, Inc.
- Pawn TX, Inc.
- Cash America Pawn L.P.
- Cash America Advance, Inc.
Dates
Filed
November 11, 2021
Resolved
July 10, 2025
Published
November 12, 2021
Case Details
Industry
Finance
Penalty Type
Fine