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CFPB v. Omni Financial of Nevada, Inc., also doing business as Omni Financial and Omni Military Loans

On December 30, 2020, the Consumer Financial Protection Bureau (CFPB) issued a consent order against Omni Financial of Nevada, Inc. (Omni).

Omni is an installment lender specializing in lending to military members. The Bureau found that Omni violated the Military Lending Act’s prohibition on requiring repayment of loans by allotment and the Electronic Fund Transfer Act’s (EFTA) prohibition against requiring that consumers preauthorize electronic fund transfers as a condition of receiving credit.

Victim compensation

In February 2022, the CFPB began mailing checks to eligible consumers.

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Important dates

February 2022 – Ongoing: Distribution

More information about the case

Read the court order

Read the press release