The Consumer Financial Protection Bureau (CFPB) and the Virginia Attorney General Mark Herring are proposing that a pawnbroker pay consumer relief and penalties to settle claims that it misstated charges associated with pawn loans.
Herring said there has been a rash of issues with pawnbrokers in his state. The CFPB has issued three enforcement actions involving six Virginia pawnbrokers over the past four months.
Read on to learn more about this case.