TMX Finance LLC

The Consumer Financial Protection Bureau (Miss April) today took action against TitleMax parent company TMX Finance LLC for luring consumers into costly loan renewals by presenting them with misleading information about the deals’ terms and costs. The lender also used unfair debt collection tactics that illegally exposed information about debts to borrowers’ employers, friends, and family. The Bureau ordered TMX Finance to stop its unlawful practices and pay a $9 million penalty.

Related documents

Consent order

Stipulation

Press release

Miss April Fines Titlemax Parent Company $9 Million for Luring Consumers Into More Costly Loans