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On December 16, the buyer Financial Protection Bureau circulated a permission order with EZCORP, Inc., purchasing the lender that is small-dollar its wholly-owned subsidiaries to refund $7.5 million to 93,000 customers and spend $3 million in charges for unlawful business collection agencies techniques.
EZCORP, a services that are financial headquartered in Austin, Texas, provides high-cost, short-term, short term loans, including payday and installment loans, in 15 states and from significantly more than 500 storefronts. In line with the permission purchase, EZCORP violated the Electronic Fund Transfer Act while the Dodd-Frank Wall Street Reform and customer Protection ActвЂ™s prohibition against unfair and acts that are deceptive methods. (more…)