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On Dec. 19, 2017, the Consumer Financial Protection Bureau (CFPB) took action against four Virginia pawnbrokers for deceiving consumers about the actual annual costs of their loans. In lawsuits filed in federal court, the CFPB alleged that the four companies broke the law by misstating the charges associated with pawn loans. The court entered a stipulated final judgment and order on Feb. 22, 2017, which ordered Pawn U.S.A., Inc. to pay $36,367 in disgorgement and a $10,000 civil money penalty.

Related documents

Complaint

Stipulated final judgment and order

Press release

CFPB Takes Action Against Pawn Companies for Deceiving Consumers About Loan Costs