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CFPB Takes Action Against Business Collection Agencies Firm EZCORP, Inc. and Problems In-Person Commercial Collection Agency Compliance Bulletin We Blog Dodd-Frank

CFPB Takes Action Against Business Collection Agencies Firm EZCORP, Inc. and Problems In-Person Commercial Collection Agency Compliance Bulletin We Blog Dodd-Frank

On December 16, 2015, the buyer Financial Protection Bureau (CFPB) announced an enforcement that is administrative against business collection agencies company EZCORP, Inc. (EZCORP), for allegedly participating in unlawful commercial collection agency methods in breach regarding the Electronic Fund Transfer Act (EFTA) plus the Dodd-Frank Wall Street Reform and customer Protection Act of 2010 (Dodd-Frank).

EZCORP and its particular entities that are related supplied high-cost, short-term, short term loans, in 15 states from a lot more than 500 storefronts, under the tradenames “EZMONEY pay day loans,” “EZ Loan Services,” “EZ Payday Advance,” and “EZPAWN payday advances.” The CFPB alleges that EZCORP involved with unjust and misleading commercial collection agency techniques in breach associated with EFTA and Dodd-Frank.