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Volume 25 - Number 6

March 17, 2014

Bureau Delivers CID to World Acceptance Corp.

World Acceptance Corp., one of the largest small-loan lenders in the U.S., received a civil investigative demand from the CFPB last week, the company disclosed in a filing with the Securities and Exchange Commission. The CID states, in part, that “[t]he purpose of this investigation is to determine whether finance companies or other unnamed persons have been or are engaging in unlawful acts or practices in connection with the marketing, offering or extension of credit ….” The probe is also being undertaken “to determine whether bureau action to obtain legal or equitable relief would be in the public interest,” the filing said.

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