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Acquisitions
In 2010, it acquired Maxit Financial.In 2021, FirstCash entered the "buy now, pay later" payments industry with the acquisition of American First Finance. The deal was announced on October 28 with a value of $1.17 billion, and closed on December 16 with a final value of $916 million.
Controversies and Lawsuits
In November 2021, the Consumer Financial Protection Bureau filed a lawsuit against FirstCash and its subsidiary, Cash America West, for alleged violations of the Military Lending Act and a 2013 CFPB order against the same. While the Military Lending Act prohibits loans to servicemembers and their families with annual interest above 36%, the CFPB accused the company of making thousands of loans with interest rates as high as 200%.In September 2022, the company paid $379,125.73 to 253 workers in Seattle, Washington, in order to settle claims that it violated the city's minimum wage, break time, and leave laws. As part of the settlement, it also paid $4,746.96 to the city of Seattle.
https://en.wikipedia.org/wiki/FirstCash
https://in.investing.com/equities/first-cash-financial
https://finance.yahoo.com/quote/FCFS/profile?p=FCFS
https://www.comparably.com/companies/first-cash-financial-services/mission
https://www.crunchbase.com/organization/firstcash
https://sec.report/CIK/0000840489
