Consumer Bureau Action Tracker

CFPB v. A To Z Pawn, Inc., Pawn U.S.A., Inc., Fredericksburg Gold & Pawn, Inc., and Spotsylvania Gold & Pawn, Inc. (four separate legal filings)


State

Virginia

target

Spotsylvania Gold & Pawn, Inc.

Topics

Small-Dollar Lending, Enforcement, Payday Loans

The CFPB filed four separate lawsuits against A To Z Pawn, Inc., Pawn U.S.A., Inc., Fredericksburg Gold & Pawn, Inc., and Spotsylvania Gold & Pawn, Inc. in the US District Court for the Eastern District of Virginia. The CFPB alleged that the companies attached “finance charge[s]” to their loans that were “made up of several fees.” The companies would then advertise loans with “deceptively low [interest rates].”

  • On December 19, 2016, the CFPB filed four separate lawsuits against A To Z Pawn, Inc., Pawn U.S.A., Inc., Fredericksburg Gold & Pawn, Inc., and Spotsylvania Gold & Pawn, Inc. in the US District Court for the Eastern District of Virginia. [Consumer Financial Protection Bureau vs. A To Z Pawn, Inc., case no. 1:16-cv-01567, 12/19/16; Consumer Financial Protection Bureau vs. Pawn U.S.A., Inc., case no. 1:16-cv-01566, 12/19/16; Consumer Financial Protection Bureau vs. Fredericksburg Gold & Pawn, Inc., case no. 3:16-cv-00987, filed 12/19/17; Consumer Financial Protection Bureau vs. Spotsylvania Gold & Pawn, Inc., 3:16-cv-00988, filed 12/19/17]

 

Status

Resolved


3:16-cv-00988 12/19/2016 12/19/2016

CFPB Takes Action Against Pawn Companies for Deceiving Consumers About Loan Costs
http://www.consumerfinance.gov/policy-compliance/enforcement/actions/spotsylvania-gold-pawn-inc/

  • Consumer Financial Protection Bureau (CFPB)
  • Federal district court case
  • U.S. District Court for the Eastern District of Virginia
  • Nonbank
  • Pending
  • Not Available

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