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Cottonwood Financial, Ltd., d/b/a Cash Store

On April 1, 2020, the Consumer Financial Protection Bureau (Bureau) issued a consent order against Cottonwood Financial, Ltd., which does business under the name Cash Store. Cash Store is based in Irving, Texas and owns and operates roughly 340 retail lending outlets in Idaho, Illinois, Michigan, New Mexico, Texas, Utah, and Wisconsin. The Bureau found that in the course of marketing, servicing, and collecting on high-interest payday, auto-title, and unsecured consumer-installment loans Cash Store violated the Consumer Financial Protection Act (CFPA), Fair Credit Reporting Act (FCRA), and Truth in Lending Act (TILA). The consent order requires Cash Store to pay $286,675.64 in consumer redress and a civil money penalty of $1,100,000. The consent order also prohibits Cash Store from certain collection practices and requires it to ensure that its employees respond accurately when asked about its loans’ fees.

Related documents

Consent order


Press Release

Consumer Financial Protection Bureau Settles with Short-Term Lender for Unfair and Deceptive Acts and Practices