CFPB purchases EZCORP to cover $10 Million for prohibited Debt Collection Tactics

Bureau Issues Industry-Wide Warning On Residence, Workplace business collection agencies Risks WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today took action against EZCORP, Inc., a lender that is small-dollar for unlawful commercial collection agency techniques. These strategies included unlawful visits to customers at their houses and workplaces, empty threats of appropriate action, lying about consumers’ legal rights, and exposing customers to bank costs through illegal withdrawals that are electronic. The Bureau ordered EZCORP to refund $7.5 million to 93,000 consumers, spend $3 million in charges, preventing number of remaining payday and loan that is installment owed by approximately 130,000 customers. It additionally bars EZCORP from future debt collection that is in-person. In addition, the Bureau issued an industry-wide caution about gathering financial obligation at domiciles or workplaces. להמשיך לקרוא

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