FirstCash Announces Settlement of CFPB Litigation Related to Military Lending Act
FirstCash Holdings (Nasdaq: FCFS), a major international pawn store operator with over 3,000 locations, has announced a settlement with the Consumer Financial Protection Bureau (CFPB) regarding alleged Military Lending Act violations.
The settlement includes the introduction of a new pawn lending product for U.S. military members and their families. FirstCash will pay $5-7 million in consumer redress and a $4 million fine to the CFPB victims relief fund. The financial impact will be reflected in Q2 2025 results.
FirstCash Holdings (Nasdaq: FCFS), uno dei principali operatori internazionali nel settore dei pegni con oltre 3.000 punti vendita, ha annunciato un accordo con il Consumer Financial Protection Bureau (CFPB) riguardo presunte violazioni del Military Lending Act.
L'accordo prevede l'introduzione di un nuovo prodotto di prestito su pegno dedicato ai membri delle forze armate statunitensi e alle loro famiglie. FirstCash pagher脿 un risarcimento ai consumatori tra 5 e 7 milioni di dollari e una multa di 4 milioni di dollari al fondo per il risarcimento delle vittime del CFPB. L'impatto finanziario sar脿 riflesso nei risultati del secondo trimestre del 2025.
FirstCash Holdings (Nasdaq: FCFS), un importante operador internacional de casas de empe帽o con m谩s de 3,000 ubicaciones, ha anunciado un acuerdo con la Oficina de Protecci贸n Financiera del Consumidor (CFPB) relacionado con supuestas violaciones de la Ley de Pr茅stamos Militares.
El acuerdo incluye la introducci贸n de un nuevo producto de pr茅stamo prendario para miembros militares de EE. UU. y sus familias. FirstCash pagar谩 entre 5 y 7 millones de d贸lares en compensaci贸n a los consumidores y una multa de 4 millones de d贸lares al fondo de ayuda para v铆ctimas del CFPB. El impacto financiero se reflejar谩 en los resultados del segundo trimestre de 2025.
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鞚措矆 頃╈潣鞐愲姅 氙戈淡 甑办澑瓿� 攴� 臧�臁膘潉 鞙勴暅 靸堧鞖� 鞝勲嫻 雽�於� 靸來拡 霃勳瀰鞚� 韽暔霅橃柎 鞛堨姷雼堧嫟. FirstCash電� 500毵寏700毵� 雼煬鞚� 靻岆箘鞛� 氤挫儊旮�瓿� 400毵� 雼煬鞚� 氩岅笀鞚� CFPB 頂柬暣鞛� 甑牅 旮瓣笀鞐� 歆�攵堩暊 鞓堨爼鞛呺媹雼�. 鞚� 鞛爼鞝� 鞓來枼鞚� 2025雲� 2攵勱赴 鞁れ爜鞐� 氚橃榿霅� 瓴冹瀰雼堧嫟.
FirstCash Holdings (Nasdaq : FCFS), un important op茅rateur international de magasins de pr锚t sur gage avec plus de 3 000 points de vente, a annonc茅 un accord avec le Consumer Financial Protection Bureau (CFPB) concernant des violations pr茅sum茅es du Military Lending Act.
L'accord pr茅voit l'introduction d'un nouveau produit de pr锚t sur gage destin茅 aux membres de l'arm茅e am茅ricaine et 脿 leurs familles. FirstCash versera entre 5 et 7 millions de dollars en indemnisation aux consommateurs ainsi qu'une amende de 4 millions de dollars au fonds d'aide aux victimes du CFPB. L'impact financier sera refl茅t茅 dans les r茅sultats du deuxi猫me trimestre 2025.
FirstCash Holdings (Nasdaq: FCFS), ein f眉hrender internationaler Pfandhausbetreiber mit 眉ber 3.000 Standorten, hat eine Einigung mit dem Consumer Financial Protection Bureau (CFPB) bez眉glich mutma脽licher Verst枚脽e gegen das Military Lending Act bekannt gegeben.
Die Einigung beinhaltet die Einf眉hrung eines neuen Pfandkreditprodukts f眉r US-Milit盲rangeh枚rige und deren Familien. FirstCash wird 5 bis 7 Millionen US-Dollar an Verbraucherschadensersatz sowie eine 4-Millionen-Dollar-Strafe an den CFPB-Opferhilfefonds zahlen. Die finanziellen Auswirkungen werden in den Ergebnissen des zweiten Quartals 2025 sichtbar sein.
- Settlement resolves ongoing CFPB litigation, removing regulatory uncertainty
- New specialized pawn lending product for military members creates potential market opportunity
- Total settlement cost of $9-11 million is relatively modest given company's size
- Settlement includes $5-7 million in customer redress payments
- Additional $4 million fine to CFPB victims relief fund
- Potential reputational impact from alleged military lending violations
FORT WORTH, Texas, July 11, 2025 (GLOBE NEWSWIRE) -- FirstCash Holdings, Inc. (鈥淔irstCash鈥� or the 鈥淐ompany鈥�) (Nasdaq: FCFS), a leading international operator of over 3,000 retail pawn stores in the U.S. and Latin America, today announced that it has reached a settlement with the Consumer Financial Protection Bureau (鈥淐FPB鈥�) regarding alleged violations of the Military Lending Act.
Rick Wessel, CEO of FirstCash, stated, "We are pleased to have reached this agreement with the CFPB. While we disagree with the CFPB's allegations regarding our military lending practices, we believe that agreeing to this settlement and putting this matter behind us is the best path forward for the Company. We remain committed to聽 best meeting the needs of our customers, including members of the military and their families, and to continue providing excellent service.鈥�
As part of the settlement, which remains subject to final court approval, FirstCash has agreed to offer a new pawn lending product for covered members of the U.S. military and their immediate families and dependents. Additionally, the Company will pay consumer redress in fees or principal returned to affected customers, which is estimated to be between
About FirstCash
FirstCash is a leading international operator of pawn stores focused on serving cash and credit-constrained consumers. FirstCash鈥檚 more than 3,000 pawn stores in the U.S. and Latin America buy and sell a wide variety of jewelry, electronics, tools, appliances, sporting goods, musical instruments and other merchandise, and make small non-recourse pawn loans secured by pledged personal property. FirstCash鈥檚 pawn segments in the U.S. and Latin America currently account for approximately
FirstCash is a component company in both the Standard & Poor鈥檚 MidCap 400 Index庐 and the Russell 2000 Index庐. FirstCash鈥檚 common stock (ticker symbol 鈥�FCFS鈥�) is traded on the Nasdaq, the creator of the world鈥檚 first electronic stock market. For additional information regarding FirstCash and the services it provides, visit FirstCash鈥檚 websites located at 听补苍诲 .
For further information, please contact:
Gar Jackson
Global IR Group
Phone: (817) 886-6998
Email:
Doug Orr, Executive Vice President and Chief Financial Officer
Phone: (817) 258-2650
Email:
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FAQ
What is the total financial impact of FirstCash's (FCFS) CFPB settlement?
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