Upbound Group’s Acima Leasing Announces CFPB’s Voluntary Dismissal of Previously Disclosed Lawsuit
Dismissal Brings Longstanding Matter and Litigation to An End
Acima provides its customers with the opportunity to access quality brand-name products for their homes and families through flexible lease-to-own options. Acima vigorously disputed the CFPB’s allegations and contended, among other things, that the CFPB’s investigation and lawsuit constituted an illegal attempt to expand its authority as limited by federal law and usurp the long-standing, comprehensive state regulatory framework governing the lease-to-own industry.
“We welcome and appreciate the CFPB’s recognition that it was appropriate to dismiss its lawsuit and finally bring this longstanding matter to an end,” said Mitchell Fadel, Chief Executive Officer of Upbound. “Acima is dedicated to serving its customers with transparency, fairness and in compliance with applicable laws and to providing them with best-in-class solutions that improve their lives, and we look forward to continuing to focus on serving our customers and retailers.”
About Upbound Group, Inc.
Upbound Group, Inc. (NASDAQ: UPBD), is a technology and data-driven leader in accessible and inclusive financial solutions that address the evolving needs and aspirations of underserved consumers. The Company’s customer-facing operating units include industry-leading brands such as Acima®, Brigit™, and Rent-A-Center® that facilitate consumer transactions across a wide range of store-based and digital channels, including over 2,300 company branded retail units across
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Investor Contact
Upbound Group, Inc.
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jeff.chesnut@upbound.com
Source: Upbound Group, Inc.