CFPB Reaches Settlement with FirstCash, Inc. and Its Subsidiaries for Military Lending Act Violations
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Operational Brief
• FirstCash, Inc., and its nineteen subsidiaries agreed to a settlement with the CFPB for Military Lending Act violations.
• The stipulated final judgment and proposed order will resolve the lawsuit if approved by the court.
Why It Matters for Texas Credit Unions
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Today, in the Consumer Financial Protection Bureau’s (CFPB) November 12, 2021 lawsuit against FirstCash, Inc., and nineteen subsidiaries alleging violations of the Military Lending Act (MLA), the parties reached a settlement and jointly filed a stipulated final judgment and proposed order, which if entered by the court, would resolve the lawsuit.