The CFPB sued B&B Pawnbrokers, inc. in US District Court “for deceiving consumers about the actual annual cost of its loans.” The CFPB coordinated this investigation with Virginia state officials, who were also suing B&B for violations of Virginia law.

• On November 3, 2016, the CFPB filed a lawsuit against B&B Pawnbrokers, Inc. in the US District Court for the Eastern District of Virginia, Richmond Division. [Consumer Financial Protection Bureau vs. B&B Pawnbrokers, Inc., 3:16-cv-00887, 11/03/16]

• In November 2016, the CFPB filed a lawsuit against B&B Pawnbrokers for “‘for deceiving consumers about the actual annual cost of its loans.'” [David Lazarus, “The future isn’t bright for highly successful consumer watchdog”, Los Angeles Times, 11/22/16]

• According to the CFPB, “The Commonwealth of Virginia has a pending action against B&B Pawnbrokers for violations of the Virginia Consumer Protection Act, and the CFPB coordinated with Virginia in its investigation.” [Press Release, “CFPB Takes Action Against B&B Pawnbrokers For Deceiving Consumers About Loan Costs”, Consumer Financial Protection Bureau, 11/03/16]