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What was the controversy surrounding FirstCash?

Asked by Anonymous Sep 02, 2026 21 views 1 answers
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Answered Sep 02, 2026

FirstCash faced significant regulatory controversy stemming from a federal lawsuit filed by the Consumer Financial Protection Bureau alleging violations of the Military Lending Act. The agency claimed the company charged active-duty servicemembers annual percentage rates exceeding the legal 36% cap and utilized prohibited arbitration clauses. The dispute was formally resolved through a stipulated final judgment requiring millions in consumer redress and civil penalties.

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