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Violation Tracker Individual Record

Company: Snap Finance LLC et al.
Penalty: $11,400,000
Year: 2023
Date: May 15, 2023
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: According to the lawsuit, the lending company preyed on low-income Pennsylvanians who could not make large purchases without financing, disguising one-year rent-to-own agreements as "100-Day Cash Payoffs," then concealing balances owed and engaging in deceptive collection practices. The company also used a web-based portal for creating and signing contracts, making it easy for retailers to fraudulently sign the agreements on behalf of the consumers instead of consumers personally signing. The Office of Attorney General reached a settlement with $7,300,000 going to consumers as cash restitution payments and another $3,150,000 as consumer debt relief with Snap Finance and its affiliates, Snap RTO LLC, Snap Second Look LLC, and Snap Finance Holdings, LLC.
Level of Government: state
Action Type: agency action
Agency: Pennsylvania Attorney General
Civil or Criminal Case: civil
Facility State: Pennsylvania
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.