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CFPB v. Tempoe, LLC

The CFPB reached a legal agreement with Tempoe, LLC. The company engaged unfair acts and practices in violation of the Consumer Financial Protection Act of 2010.

Tempoe, a finance company operating since 2009, provided 1.7 million leases to US consumers through retail partners until March 2022. The company has stopped offering leases and is in the process of winding down its operations.

On September 11, 2023, a consent order was issued, imposing a permanent ban on consumer leasing and a $2 million penalty. On November 29, 2023, the CFPB allocated over $192 million from the victims relief fund to compensate eligible victims in this case.

Eligible victims include consumers who entered into lease agreements with Tempoe from January 1, 2015, to September 11, 2023, where the lease was extended on a month-to-month basis for more than six months after the initial term, and Tempoe failed to provide the required additional disclosures.

Victim compensation

Important dates

October 24, 2024 – Ongoing: Distribution

More information about the case

Read the court order

Read the press release