The Consumer Financial Protection Bureau sued an installment lending unit of CURO Group Holdings Corp. over allegations that consumers were pushed into costly refinancing plans they couldn’t afford.
Heights Finance Holding Co., which operates several installment lenders in six Southern states, allegedly made refinancing a central part of its business plan, trapping customers with high-interest loans that were supposed to be repaid after a few months in new loans that take years to repay, according to a complaint filed Tuesday in the US District Court for the District of South Carolina. Heights Finance operated under the corporate name Southern Management ...
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