Advanced Search

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.

Subscribers to Inside the CFPB have full access to all its stories and data online. Visitors may become subscribers for full access or may purchase individual articles and data.

Subscriber Log In

If you are a current subscriber or already purchased this article, please login below.

Forgot your password?

Already subscribe but haven't registered for all the benefits of the website?

Subscribe

This biweekly keeps mortgage executives on top of the onslaught of new legal and regulatory issues the industry has been seeing.

 

Pay-Per-View

You can purchase this article for $55.00 without subscribing and always have access to it on insidemortgagefinance.com.

Pay Per View

Please contact Customer Service if you need assistance: 1-800-570-5744

Poll

In 2016, what have you been paying your retail residential loan officers, on average, as a commission?

25 to 50 basis points per loan
51 to 75 bps
76 to 100 bps
101 to 150 bps
More than 150 bps
We’re a call center lender and don’t disclose that data point.

vote to see results
Housing Pulse