In 2015, the CFPB fined “payday and pawn lender EZCorp Inc.” $10.5 million for “alleged illegal debt collection tactics,” including aggressive attempts to collect payment at the borrower’s home and workplace and lying about consumers’ rights.

• EZCorp is an “Austin, Tex.-based lender.” Prior to this case, EZCorp did business under a variety of different names, “including EZMONEY Payday Loans, EZ Loan Services, EZ Payday Advance and EZPAWN Payday Loans.” [Jacob Passy, “CFPB Demands EZCorp Pay $10M for Debt Collection Tactics,” American Banker, 12/17/15]

• The CFPB alleged that the lender “made illegal visits to consumers at their homes and workplaces, lied about consumers’ rights and made unlawful electronic withdrawals that exposed consumers to bank fees, among other charges.” EZCorp claimed to have stopped their illegal debt collection practices after the CFPB launched an investigation in July 2015. [Jacob Passy, “CFPB Demands EZCorp Pay $10M for Debt Collection Tactics,” American Banker, 12/17/15]

• The detailed allegation included conducting “in-person collection visits until at least Oct. 2013, during which the company would expose or risk exposing consumers’ debts to third parties. As a result, consumers faced consequences including disciplinary actions or firing at their places of work. The company also reportedly would contact third parties such as work supervisors and landlords about borrowers’ debts or call consumers at their workplaces even after being told to stop.” EZCorp would threaten legal action without any following through with lawsuits. [Jacob Passy, “CFPB Demands EZCorp Pay $10M for Debt Collection Tactics,” American Banker, 12/17/15]

• EZCorp was required, per the consent order, to “refund $7.5 million to 93,000 consumers and pay another $3 million in fines to the CFPB’s Civil Penalty Fund.” The company was also ordered to “stop collecting remaining payday and installment loan debts from roughly 130,000 borrowers” and barred from “attempting to collect future debts in person.” [Jacob Passy, “CFPB Demands EZCorp Pay $10M for Debt Collection Tactics,” American Banker, 12/17/15]