CFPB Fines Payday Lender $10M For Debt Collection Practices

David Mertz

Yesterday, the CFPB announced a consent decree with EZCORP , an Austin, Texas-based payday lender.  The consent decree included $7.5 million in redress to consumers, $3 million in fines, and the effective extinguishment of 130,000 payday loans.  In July of this year, EZCORP announced that they were exiting the consumer lending marketplace.

The consent decree alleged a number of UDAAP violations against EZCORP, including:

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