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Payday lender ACE Cash Express sued by US consumer watchdog for allegedly concealing free repayment plans

( July 12, 2022, 16:49 GMT | Official Statement) -- MLex Summary: The US Consumer Financial Protection Bureau has sued ACE Cash Express, a payday lender owned by private equity firm JLL Partners, accusing the firm of concealing free repayment plans from struggling borrowers in a scheme that generated at least $240 million. ACE is a repeat offender, the CFPB said, after paying $10 million in penalties in 2014 for allegedly using illegal debt-collection practices.See statement and document below....

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