CFPB’s Military Lending Case Against Pawn Broker to Move Forward

The Consumer Financial Protection Bureau said it will continue to pursue its case against a pawn broker accused of charging inflated interest rates on loans to military personnel and their families.

The CFPB’s move to keep its case against FirstCash Inc. alive in the US District Court for the Northern District of Texas makes it one of at least three Biden-era enforcement actions that acting CFPB Director Russell Vought specifically authorized to move forward in recent weeks.

The CFPB alleges FirstCash issued loans to military service members and their families with interest rates above the Military Lending Act’s 36% cap. ...