CFPB Sues Snap Finance, Prehired for Allegedly Deceiving Consumers

The agency fires another warning shot over what it sees as deceptive practices.

Couches displayed at a furniture store.
(Image credit: Getty Images)

The Consumer Financial Protection Bureau (CFPB) has stepped up enforcement actions with lawsuits this month against two companies over what it describes as deceptive consumer lending practices.

On July 19, the agency sued Snap Finance, a Utah-based lease-to-own service company that provides millions of lease-purchase and rental-purchase agreements to consumers. In a separate suit announced July 13, the CFPB joined with the California Department of Financial Protection and Innovation (CA DPI) and 10 state attorneys general (AGs) to sue online vocational training firm Prehired.

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Esther D’Amico
Senior News Editor

Esther D’Amico is Kiplinger’s senior news editor. A long-time antitrust and congressional affairs journalist, Esther has covered a range of beats including infrastructure, climate change and the industrial chemicals sector. She previously served as chief correspondent for a financial news service where she chronicled debates in and out of Congress, the Department of Justice, the Federal Trade Commission and the Commerce Department with a particular focus on large mergers and acquisitions. She holds a bachelor’s degree in journalism and in English.