By Fran Bishop, NPA Government Relations Liaison
While many of us were in Las Vegas at NPA’s Pawn Expo 2022 the CFPB filed a lawsuit on July 12 in the U.S. District Court for the Northern District of Texas against Populus Financial Group, Inc. which does business as payday and title lender ACE Cash Express.
ACE is charged with concealing no-cost repayment plans for payday and title borrowers and improperly withdrawing funds from their bank accounts. In so doing, the CFPB alleges that ACE engaged in “unfair, abusive, and deceptive acts or practices” (UDAAP).
As with the CFPB’s November 2021 lawsuit against FirstCash Inc./Cash America West, Inc. (in the same U.S. District Court), ACE is a repeat offender of…