ACE Cash Express store in south Dallas. Credit: Google Federal Agency Accuses Payday Lender ACE Cash Express of Unfair Practices
Allegations in the complaint generally tie back to alleged violations of a consent order that was a result of a 2014 bureau investigation.
July 14, 2022 at 02:28 PM
5 minute read
ACE Cash Express Inc., the nation's largest payday lender, is being sued in federal court by a federal agency that claims ACE deceptively hid a free repayment plan option for customers unable to repay their loans.
The lawsuit filed in the Northern District of Texas, Dallas Division also alleges the Irving-based company used unfair means to funnel consumers to costly repayment plans; engaged in abusive practices by materially interfering with consumers' ability to understand their right to the free repayment plan; took unreasonable advantage of consumers' ignorance of the conditions of repayment options; and withdrew funds from consumers' back accounts without authorization.
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