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`CONSUMER FINANCIAL PROTECTION BUREAU
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`ADMINISTRATIVE PROCEEDING
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`File No. 20137CFPB70008
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` In the Matter Of:
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` Cash America International, Inc.
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`CONSENT ORDER
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`The Consumer Financial Protection Bureau (“Bureau”) has reviewed the short—term, smalls
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`dollar lending practices of Cash America International, Inc. (“Cash America” or “Respondent” as
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`defined below) and has identified the following violations of law: (1) failing to maintain and provide
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`records and information relevant to the Bureau examination in violation of the Consumer Financial
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`Protection Act of 2010 (“CFPA”), 12 U.S.C. § 5536(a)(2); (2) unfair and deceptive acts or practices
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`in connection with the preparation and filing of affidavits in violation of the CFPA, 12 U.S.C. §§
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`5531 and 5536(a)(1)(B); and (3) making loans to covered members of the military or their
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`dependents in violation of the Military Lending Act (“MLA”), 10 U.S.C. § 987. Under sections 1053
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`and 1055 of the CFPA, 12 U.S.C. §§ 5563 and 5565, the Bureau issues this Consent Order
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`(“Order”).
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`RCAMC EXHIBIT 2001
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`RCAMC EXHIBIT 2001
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`I
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`Jurisdiction
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`1.
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`The Bureau has jurisdiction over this matter pursuant to Sections 1053 and 1055 of the
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`CFPA, 12 U.S.C. §§ 5563, 5565.
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`II
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`Stipulation
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`2.
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`Cash America has executed a “Stipulation and Consent to the Issuance of a Consent Order,”
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`dated November 18, 2013 (“Stipulation”), which is incorporated by reference and is
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`accepted by the Bureau. By this Stipulation, Cash America has consented to the issuance of
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`this Order by the Bureau pursuant to Sections 1053 and 1055 of the CFPA, 12 U.S.C. §§
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`5563 and 5565, and admits the Bureau’s jurisdiction over Cash America and the subject
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`matter of this action.
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`III
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`Definitions
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`3.
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`For the purposes of this Order, the following definitions apply:
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`a.
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`“Board” shall mean Respondent’s duly elected and acting Board of Directors.
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`b.
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`“Cash America” shall mean Cash America International, Inc.
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`c.
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`“Effective Date” shall mean the date on which the Order is issued.
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`(:1.
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`“Enova” shall mean Enova International, Inc.
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`e.
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`“Relevant Period” shall include the period fromjanuary 1, 2008 through November
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`30, 2012.
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`f.
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`“Regional Director” shall mean the Regional Director for the Southeast Region for
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`the Bureau’s Office of Supervision Examinations.
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`RCAMC EXHIBIT 2001
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`RCAMC EXHIBIT 2001
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`g.
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`“Related Consumer Action” shall mean a private damages action by or on behalf of
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`one or more consumers or an enforcement action by another governmental entity,
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`brought against Respondent based on substantially the same facts as set forth in
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`Section IV of this Order.
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`h. “Respondent” shall mean Cash America International, Inc, including its subsidiary
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`Enova International, Inc., all other subsidiaries, and its successors and assigns.
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`i.
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`“Service Provider” shall have the same meaning as set forth in Section 1002(26) of
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`the CFPA, 12 use. § 5481(26).
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`BUREAU FINDINGS OF FACT AND CONCLUSIONS OF LAW
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`The Bureau finds the following:
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`IV
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`4.
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`Cash America is a publicly traded financial services company headquartered in Fort \‘C’orth,
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`Texas, that engages in offering and providing consumer financial products or services,
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`including short—term, small—dollar loans (commonly referred to as payday loans), lines of
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`credit, installment loans, and pawn loans.
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`Cash America offers payday loans through, among other channels, its whollyeowned
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`subsidiary and affiliate, Enova, headquartered in Chicago, Illinois. Enova is a licensed lender
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`offering consumer loans online in 32 states in the United States under the brand name
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`CashNetUSA.
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`Cash America is a “covered person” as that term is defined by 12 U.S.C. § 5481(6).
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`Enova is a “covered person” as that term is defined by 12 U.S.C. § 5481(6).
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`Cash America offers and provides various forms of short—term smalledollar loans, including
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`payday loans, each of which is a “consumer financial product or service” as that term is
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`defined by 12 use. § 5481(5).
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`RCAMC EXHIBIT 2001
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`10.
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`11.
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`12.
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`13.
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`Examination Conduct — Unlawful
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`On July 11, 2012, the Bureau provided a letter (“Exam Letter”) to Cash America that
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`informed the entity that the Bureau was conducting an examination of the company
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`pursuant to 12 U.S.C. § 5514, and that the initial examination review period was July 1, 2011
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`through June 30, 2012 (“Exam Review Period”).
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`The Exam Letter further informed Cash America of the subject matter of the examination,
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`and that Cash America was “required to maintain all materials and information that may be
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`responsive to the Bureau requests.” The Exam Letter stated that “during the pendency of
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`the examination, any routine or non—routine procedures, including procedures pursuant to a
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`document retention policy, which could result in the destruction of such material or
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`information, including electronically—stored information, should be suspended.”
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`On September 10, 2012, the Bureau commenced the on-site portion of its examination at
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`Cash America’s headquarters in Fort \Worth, Texas.
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`On September 25, 2012, the Bureau commenced the on-site portion of its examination at
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`Enova’s headquarters in Chicago, Illinois.
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`Cash America’s subsidiary, Enova, failed to comply with the Exam Letter’s requirement to
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`preserve all materials that may be responsive to the Bureau’s requests by failing to suspend
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`routine data and document destruction procedures. Specifically, Enova:
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`a.
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`failed to preserve recorded inbound and outbound telephone calls from March 27,
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`2012 through June 2, 2012, a 68—day portion of the Exam Review Period, and
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`b.
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`failed to cease routine document shredding for 47 days after receiving the Exam
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`Letter.
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`During the examination, Enova managers failed to provide certain information relevant to
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`the examination regarding Enova’s call center sales activities by:
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`4
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`a.
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`directing call center employees to de-emphasize the marketing and sales aspect of the
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`call center employees’ duties, and, in some instances, specifically directing certain
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`employees not to use the word “sales” in describing their job functions to Bureau
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`examiners;
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`b.
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`removing materials that emphasized sales, collections, and other performance
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`metrics from the walls and common areas of the call center;
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`c.
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`d.
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`removing sales~focused materials from call center employee cubicles; and
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`turning off an auto—dialer normally used to direct outbound marketing calls to
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`current, prospective, or past customers, while the Bureau examiners visited the call
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`center to review normal and routine call center activities.
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`15.
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`16.
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`17.
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`18.
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`19.
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`Cash America failed to timely provide its 2012 Internal Collections Compliance Audit in
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`response to the Exam Letter.
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`The Bureau is authorized to “require reports and conduct examinations” of nondepository
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`institutions, including payday lenders. 12 U.S.C. § 5514(b)(1).
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`The Bureau is authorized to require supervised nondepository institutions “to generate,
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`provide, or retain records for the purposes of facilitating supervision of such persons and
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`assessing and detecting risks to consumers.” 12 U.S.C. § 5514(b)(7).
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`It “shall be unlawful” for “any covered person .
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`.
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`. to fail or refuse, as required by Federal
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`consumer financial law, or any rule or order issued by the Bureau thereunder— (A) to
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`permit access to or copying of records; (B) to establish or maintain records; or (C) to make
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`reports or provide information to the Bureau.” 12 U.S.C. § 5536(a) (2).
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`Enova’s failure to preserve call recordings and other documents, and Respondent’s failure to
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`timely provide the 2012 Internal Collections Compliance Audit, as described in Paragraphs 9
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`through 15, constitute “unlawf ” acts in violation of 12 U.S.C. § 5536(a)(2) because
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`Respondent failed to maintain records and provide information to the Bureau.
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`20.
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`Enova’s actions related to the presentation of the marketing and sales activities of its call
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`center prior to and during the Bureau examination, as described in Paragraph 14, constitute
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`c‘unlawful” acts in violation of 12 U.S.C. § 5536(a)(2) because such activities resulted in a
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`failure to provide information to the Bureau.
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`Ohio Debt Collection Operation — Unfair and Deceptive
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`Cash America’s legal collections operation (“Collections Department”) is based in
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`Cincinnati, Ohio, and operates through its Ohio—based subsidiary and affiliate, Cashland
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`Financial Services, Inc. (“Cashland”).
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`22.
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`Betweenjanuary 2008 and September 2012, the Collections Department engaged in the
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`following acts or practices related to preparing, executing, and notarizing documents filed in
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`Cash America’s debt collection litigation in Ohio:
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`a.
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`In certain cases, Collections Department legal assistants manually stamped the
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`Collections Department manager’s signature on balance-due and military—status
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`affidavits without the manager’s prior review of the affidavits or supporting
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`documentation;
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`b. Collections Department’s in-house collections attorney directed the Collections
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`Department manager and legal assistants to stamp the in—house collections attorney’s
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`signature, or to manually sign the attorney’s name, on certain pleadings filed in Ohio
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`state court proceedings without the attorney’s prior review; and
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`c. Collections Department legal assistants notarized documents without, in certain
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`instances, following the procedures required by applicable notary law.
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`23.
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`24.
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`25.
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`26.
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`27.
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`28.
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`29.
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`Cash America failed to prevent or timely detect the problematic conduct in its Collections
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`Department by failing to conduct adequate internal compliance audits.
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`As of the Effective Date, Respondent’s Voluntary Refund Program identified 14,397
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`consumers who paid all or a portion of debts collected while this conduct was ongoing
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`(“Affected Consumers”); identified a total of $13,057,944 to be made available for
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`disbursement to Affected Consumers (“Redress Amount”); funded $6,384,790 for
`distribution (“Disbursed Redtess Amount”) to 6,499 claimants; and identified $6,673,154
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`(“Undisbursed Redress Amount”) unclaimed by additional eligible claimants.
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`The CFPA prohibits “unfair, deceptive, or abusive” acts or practices. 12 U.S.C. §§ 5531 and
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`5536(a)(1)(B).
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`An act or practice is unfair under the CFPA if it (1) causes or is likely to cause substantial
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`injury to consumers; (2) such injury is not reasonably avoidable by consumers; and (3) such
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`injury is not outweighed by countervailing benefits to consumers or to competition. 12
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`U.S.C. § 5531(c).
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`As described in Paragraphs 21 through 23, Respondent’s Ohio debt collection acts or
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`practices during the Relevant Period caused or were likely to cause substantial injury,
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`including the filing of inaccurate affidavits and pleadings that could potentially cause
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`consumers to pay incorrect debts or legal costs and court fees to defend against invalid or
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`excessive claims. This injury was not reasonably avoidable by consumers or outweighed by
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`any countervailing benefits to consumers or to competition.
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`Therefore, Respondent engaged in unfair acts or practices in violation of the CFPA. 12
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`U.S.C. §§ 5531 and 5536(a)(1)(B).
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`An act or practice may be considered “deceptive” under the CFPA if the act or practice (1)
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`misleads or is likely to mislead the consumer; (2) the consumer’s interpretation of the act or
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`30.
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`31.
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`32.
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`33.
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`34.
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`35.
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`practice is reasonable under the circumstances; and (3) the misleading act or practice is
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`material.
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`As described in Paragraphs 21 through 23, Respondent’s Ohio debt collection acts or
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`practices during the Relevant Period were likely to mislead consumers acting reasonably
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`under the circumstances into believing the affidavits or other court filings were reviewed,
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`executed, and notarized in compliance with applicable law and this information was material
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`to consumers Subject to debt collection litigation.
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`Therefore, Respondent engaged in deceptive acts or practices in violation of the CFPA. 12
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`use. §§ 5531 and 5536(a)(1)(B).
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`Loans to Military Members and Dependents — MLA
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`The Military Lending Act (“MA”), as implemented by regulations of the Department of
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`Defense, prohibits a creditor from imposing a “military annual percentage rate” (“MAPR”)
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`above 36 percent in connection with “consumer credit” extended to an active member of
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`the military or their spouse or dependent (“covered borrower”). 10 U.S.C. § 987; 32 C.F.R.
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`§§ 2323 and 232.4.
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`All loans originated by Enova have lVLAPRs that exceed 36 percent.
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`Prior to December 14, 2012, due in part to systems errors, Enova made 362 payday loans
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`that qualified as “consumer credit” under 32 CPR. § 232.3 to active-duty military members
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`or dependents and now has refunded $33,550 in loan and loanirelatcd fees to those
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`customers.
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`Enova call center representatives are insufficiently trained with respect to lVILA compliance
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`and as a result have allowed additional loans to be originated to spouses of activeiduty
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`military members.
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`36.
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`As described in Paragraphs 32 through 35, Respondent violated the NILA by making loans
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`whose MAPR exceeded 36 percent to active members of the military or their spouse or
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`dependent.
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`CONDUCT PROVISIONS
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`V
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`Order to Cease and Desist and to Take Other Affirmative Action
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`IT IS ORDERED, pursuant to Sections 1053 and 1055 of the CFPA,12 U.S.C. §§ 5563
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`and 5565, that:
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`37.
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`Respondent and its officers, agents, servants, employees, and attorneys who have actual
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`notice of this Order, whether acting directly or indirectly, shall cease and desist from the
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`violations described in Paragraphs 38 through 40 and ensure compliance with Federal
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`consumer financial law in all of its dealings with consumers and the Bureau.
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`38.
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`Respondent and its officers, agents, servants, employees, and attorneys who have actual
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`notice of this Order, whether acting directly or indirectly, shall cease and desist from any
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`further violations of 12 U.S.C. § 5536(a)(2) with respect to preserving and providing
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`information and records required under the Bureau’s supervisory authority.
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`39.
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`Respondent and its officers, agents, servants, employees, and attorneys who have actual
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`notice of this Order, whether acting directly or indirectly, shall cease and desist from any
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`further violations of 12 U.S.C. §§ 5531 and 5536(a)(1)(B) with respect to its debt collection
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`acts or practices.
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`40.
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`Respondent and its officers, agents, servants, employees, and attorneys who have actual
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`notice of this Order, whether acting directly or indirectly, shall cease and desist from any
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`further violations of 10 U.S.C. § 987, as implemented by regulations of the Department of
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`Defense.
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`VI
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`Compliance Plan
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`IT IS FURTHER ORDERED that:
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`41.
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`\Within 90 days of the Effective Date, Cash America shall submit to the Regional Director
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`for review and determination of non-objection a comprehensive compliance plan
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`(“Compliance Plan”) designed to ensure that Respondent complies with the terms of this
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`Order and all applicable Federal consumer financial laws and the MLA and its implementing
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`regulations when:
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`a.
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`interacting with the Bureau’s supervisory function, including, but not limited to,
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`document retention and interaction with Bureau examination staff;
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`b. undertaking debt collection activities, including, but not limited to, compliance with
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`the CFPA prohibitions on unfair, deceptive, or abusive acts or practices, and
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`compliance with applicable law regarding the preparation, review, execution,
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`notarization, and filing of documents in any and all debt collection actions; and
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`c.
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`lending to military members and their spouses or dependents, including, but not
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`limited to, compliance with the MLA.
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`42.
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`The Compliance Plan shall, at a minimum:
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`a.
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`detail steps for addressing each action required by Section V of this Order;
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`b.
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`detail Respondent’s consumer compliance organizational and reporting structure;
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`c.
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`include written job descriptions of the duties and responsibilities of key consumer
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`compliance staff positions that clearly define authority and accountability;
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`d.
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`require that Respondent allocate resources to the compliance function that are
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`commensurate with Respondent’s size, complexity, product lines, and business
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`operations to ensure the implementation of an adequate compliance program,
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`including appropriate staffing levels with qualified and experienced personnel;
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`e.
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`include written record retention requirements, reporting requirements, and internal
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`control systems to facilitate (i) the oversight of the effectiveness of Respondent’s
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`compliance program by the Board and Respondent’s senior management; and (ii)
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`cooperation by Respondent and its directors, officers, employees, agents, and service
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`providers with future Bureau examinations;
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`f.
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`require ongoing education and training in Federal consumer financial laws and the
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`MLA for all appropriate employees, Board members, and other affiliated individuals,
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`with training tailored to each individual’s responsibilities and duties. Training
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`activities shall be documented and the training program must be reviewed and
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`updated at least annually to ensure that appropriate personnel are provided with the
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`most relevant and pertinent information;
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`g.
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`require a formal consumer compliance risk review process before introducing or
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`implementing new or changed products or services; and
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`h.
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`require updating of the Compliance Plan at least annually, or as required by more
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`frequent changes in laws or regulations, or changes in Respondent’s business
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`strategies, so that the program remains current and effective.
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`43.
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`The Regional Director shall have the discretion to make a determination of noneobjection to
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`the Compliance Plan or to direct Cash America to revise it. In the event that the Regional
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`Director directs Cash America to revise the Compliance Plan, Cash America shall make the
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`revisions and resubmit the Compliance Plan to the Regional Director within 30 days.
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`44.
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`Once the Regional Director has notified Cash America of the Bureau’s non—objection to the
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`Compliance Plan, Cash America shall implement and adhere to the steps, recommendations,
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`deadlines, and timeframes set forth in the Compliance Plan.
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`VII
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`Role of the Board
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`IT IS FURTHER ORDERED that:
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`45.
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`The Board shall review all submissions required by this Order prior to submission to the
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`Bureau.
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`46.
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`Although this Order requires Cash America to submit certain documents for the review or
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`non—objection by the Regional Director, the Board shall have the ultimate responsibility for
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`proper and sound management of Cash America and for ensuring that Respondent complies
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`with Federal consumer financial law, other applicable law, and this Order.
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`47.
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`In each instance in this Order in which the Board is required to ensure adherence to, or
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`undertake to perform, certain obligations of Cash America, the Board shall:
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`a.
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`authorize and adopt such actions on behalf of Respondent as may be necessary for
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`Respondent to perform its obligations and undertakings under the terms of this
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`Order;
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`b.
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`require the timely reporting by Respondent management of such actions directed by
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`Respondent to be taken under the terms of this Order; and
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`c.
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`require corrective action be taken in a timely and appropriate manner relating to any
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`material noncompliance with such actions.
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`MONETARY PROVISIONS
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`VIII
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`Order to Pay Redress
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`IT IS FURTHER ORDERED that:
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`48.
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`49.
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`50.
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`51.
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`On or before the Effective Date, Cash America shall deposit into a segregated deposit
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`account $8,000,000 (“Undisbursed Redress Amount”) for the purpose of continuing to
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`provide redress to Affected Consumers as required by this Section.
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`On or before the Effective Date, Cash America shall begin accepting, processing, and paying
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`eligible claims that Affected Consumers make against the Undisbursed Redrcss Amount in
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`the same manner it has to date through the Voluntary Refund Program. Cash America shall
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`provide information and accept claims forms through, at a minimum, a dedicated web site
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`and toll—free phone number for a period of 180 days from the Effective Date (“Final Claims
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`Period”).
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`Within 30 days following the conclusion of the Final Claims Period, Cash America shall
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`provide a final report to the Regional Director detailing the entirety of its efforts to provide
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`redress to Affected Consumers, including a signed report from an internal auditor or third—
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`party auditor certifying Respondent’s completion of the Rcdress Plan.
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`With regard to redress paid pursuant to this Section, Respondent may neither seek nor
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`receive, directly or indirectly, any reimbursement or indemnification from any insurance
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`policy, and shall treat such redress payments in the ordinary course for tax purposes and may
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`claim lawful deductions but shall not seek any extraordinary tax credit or other treatment.
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`IX
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`Order to Pay Civil Money Penalties
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`IT IS FURTHER ORDERED that:
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`52.
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`53.
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`55.
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`56.
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`Pursuant to Section 1055(c) ofthe CFPA, 12 U.S.C. § 5565(c), by reason of the violations of
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`law set forth in Section IV of this Order, and taking into account the factors set forth in
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`Section 1055(c)(3) of the CFPA, 12 U.S.C. § 5565(c)(3), including the substantial redress
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`provided to consumers and Respondent’s cooperation, Cash America shall pay a civil money
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`penalty of $5,000,000 to the Bureau, as directed by the Bureau and as set forth herein.
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`Within 10 days of the Effective Date, Respondent shall pay the civil money penalty in the
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`form of a wire transfer to the Bureau or to such agent as the Bureau may direct, and in
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`accordance with wiring instructions to be provided by counsel for the Bureau.
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`The civil money penalty paid pursuant to this Order shall be deposited in the Civil Penalty
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`Fund of the Bureau in accordance with Section 1017(d) of the CFPA, 12 U.S.C. § 5497(d).
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`In the event of any default on Respondent’s obligation to pay a civil money penalty as
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`required by this Order, interest, computed pursuant to 28 U.S.C. § 1961, as amended, shall
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`accrue on any outstanding amounts not paid from the date of default to the date of payment,
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`and shall immediately become due and payable.
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`Respondent shall relinquish all dominion, control, and title to the funds paid to the fullest
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`extent permitted by law and no part of the funds shall be returned to Respondent.
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`Respondent shall treat the civil money penalty as a penalty paid to the government for all
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`purposes. Regardless of how the Bureau ultimately uses those funds, Respondent shall not:
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`a. Claim, assert, or apply for a tax deduction or tax credit with regard to any federal,
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`state, or local tax for any civil money penalty that Respondent pays pursuant to this
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`Order; or
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`b. Seek or accept, directly or indirectly, reimbursement or indemnification from any
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`source, including but not limited to payment made pursuant to any insurance policy,
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`with regard to any civil money penalty that Respondent pays pursuant to this Order.
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`58.
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`To preserve the deterrent effect of the civil money penalty, in any Related Consumer Action,
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`Respondent shall not argue that Respondent is entitled to, nor shall Respondent benefit by,
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`any offset or reduction of any monetary remedies imposed in the Related Consumer Action,
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`by any amount of the civil money penalty paid in this action (“Penalty Offset”).
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`If the court
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`in any Related Consumer Action grants such a Penalty Offset, Respondent shall, Within 30
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`days after entry of a final order granting the Penalty Offset, notify the Bureau, and pay the
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`amount of the Penalty Offset to the US. Treasury. Such a payment shall not be deemed an
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`additional civil money penalty and shall not be deemed to change the amount of the civil
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`money penalty imposed in this action.
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`COMPLIANCE PROVISIONS
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`X
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`Reporting Requirements
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`IT IS FURTHER ORDERED that:
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`59.
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`For a period of three years from the Effective Date, Cash America shall notify the Bureau of
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`any change in Respondent that may affect obligations arising under this Order, including,
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`but not limited to, a dissolution, assignment, sale, merger, or other action that would result
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`in the emergence of a successor company; the creation or dissolution of a subsidiary, parent,
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`or affiliate that engages in any acts or practices subject to this order; the proposed filing of
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`any bankruptcy or insolvency proceeding by or against Respondent; or a change in Cash
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`America’s name or address.
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`60.
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`Cash America shall report any change in the information required to be submitted under this
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`Section at least 30 days prior to such change. Pmaidm', however, that with respect to any
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`proposed change about which Cash America learns less than 30 days prior to the date such
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`action is to take place, Cash America shall notify the Bureau as soon as is practicable after
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`obtaining such knowledge.
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`61.
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`W’ithin 120 days of the Effective Date, and again one year thereafter, Cash America shall
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`submit to the Regional Director a true and accurate written compliance progress report
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`(“Compliance Report”), which, at a minimum:
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`a.
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`describes in detail the manner and form in which Cash America has complied with
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`this Order; and
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`b.
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`attaches a copy of each Order Acknowledgment obtained pursuant to Section XI of
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`this Order, unless previously submitted to the Bureau.
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`62.
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`After the submission of the Compliance Reports required by paragraph 61, Cash America
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`shall submit to the Regional Director additional true and accurate Compliance Reports
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`within 30 days of receiving a written request from the Regional Director.
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`XI
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`Order Distribution and Acknowledgment
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`IT IS FURTHER ORDERED that:
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`63.
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`Within 30 days of the Effective Date, Cash America shall deliver a copy of this Order to
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`each of its Board members and executive officers, as well as to any managers, employees,
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`Service Providers, or other agents and representatives who have supervisory responsibilities
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`related to the subject matter of the Order.
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`64.
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`For a period of three years from the Effective Date, Cash America shall deliver a copy of
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`this Order to any business entity resulting from any change in structure as set forth in
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`Paragraph 59, any future Board members and executive officers, as well as to any managers,
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`employees, Service Providers, or other agents and representatives who will have supervisory
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`responsibilities related to the subject matter of the Order before they assume their
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`responsibilities.
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`65.
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`Cash America shall secure a signed and dated statement acknowledging receipt of a copy of
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`this Order, with any electronic signatures complying with the requirements of the E—Sign
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`Act, 15 U.S.C. § 7001 airway” within 30 days of delivery, from all persons receiving a copy of
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`this Order pursuant to this Section.
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`XII
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`Recordkeeping
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`IT IS FURTHER ORDERED that:
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`66.
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`Cash America shall create, for at least three years from the Effective Date, and then retain,
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`for at least five years, and make available to Bureau representatives upon request, the
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`following business records:
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`a.
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`all documents and records necessary to demonstrate full compliance with each
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`provision of this Order, including all submissions to the Bureau.
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`b.
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`all documents and records pertaining to the Redress Program, as set forth in Section
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`VIII.
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`67.
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`For at least three years from the Effective Date, Cash America shall not change its document
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`retention practices regarding the location and storage of its documents, unless prior to the
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`date of change its Board has:
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`a.
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`by resolution authorized the change of location; and
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`b.
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`sent a certified copy of the resolution to the Regional Director.
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`XIII
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`Notices
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`IT IS FURTHER ORDERED that:
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`68.
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`Unless otherwise directed in writing by a Bureau representative, all submissions, requests,
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`communications, consents or other documents relating to this Order shall be in writing and
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`shall be sent by overnight courier (not the US. Postal Service), as follows:
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`James Carley
`Regional Director, Bureau Southeast Region
`Consumer Financial Protection Bureau
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`1700 G Street, N.W.
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`\Washington, DC. 20552
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`The subject line shall begin: In re Cash America International, Inc. File No. 2013-CFPB—
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`0008.
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`XIV
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`Compliance and Extensions of Time
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`IT IS FURTHER ORDERED that:
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`69.
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`Upon a written showing of good cause, the Regional Director may, in his /her discretion,
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`modify any non—material provisions of this Order (6.3., reasonable extensions of time and
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`changes to reporting requirements). Any such modification by the Regional Director shall be
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`in writing.
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`ADMINISTRATIVE PROVISIONS
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`XV
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`Administrative Provisions
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`70.
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`71.
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`72.
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`73.
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`Except as set forth in paragraph 71, the provisions of this Order shall not bar, estop, or
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`otherwise prevent the Bureau, or any other federal or state agency or department, from
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`taking any other action against Respondent.
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`The Bureau releases and discharges Respondent from all potential liability for violations of
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`law that have been or might have been asserted by the Bureau based on the practices
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`described in Section IV of this Order, to the extent such practices occurred prior to the
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`Effective Date and are known to the Bureau as of the Effective Date. Notwithstanding the
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`foregoing, the practices alleged in this Order may be utilized by the Bureau in future
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`enforcement actions against Respondent, including, without limitation, to establish a pattern
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`or practice of violations or the continuation of a pattern or practice of violations or to
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`calculate the amount of any penalty. This release shall not preclude or affect any right of the
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`Bureau to determine and ensure compliance with the terms and provisions of the Order, or
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`to seek penalties for any violations thereof
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`This Order is intended to be, and shall be construed to be, a final order issued pursuant to
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`Section 1053 of the CFPA, 12 U.S.C. § 5563, and expressly does not form, and may not be
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`construed to form, a contract binding the Bureau or the United States.
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`This Order shall be effective on the date of issuance, and shall remain effective and
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`enforceable, except to the extent that, and until such time as, any provisions of this Order
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`shall have been amended, suspended, waived, or terminated in writing by the Bureau or its
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`designated agent.
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`74.
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`Calculation of time limitations shall run from the Effective Date and shall be based on
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`calendar days, unless otherwise noted.
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`75.
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`The provisions of this Order shall be enforceable by the Bureau. Any violation of this
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`Order may result in the imposition by the Bureau of the maximum amount of civil money
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`penalties allowed under Section 1055(c) of the CFPA, 12 U.S.C. § 5565(c).
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`76.
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`This Order and the accompanying Stipulation contain the complete agreement between the
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`parties. No promises, representations or warranties other than those set forth in this Order
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`and the accompanying Stipulation have been made by any of the parties. This Order and the
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`accompanying Stipulation supersede all prior communications, discussions, or
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`understandings, if any, of the parties, whether oral or in writing.
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`77.
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`Nothing in this Order or the accompanying Stipulation shall be construed as allowing the
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`Respondent, its Board, officers, or employees to violate any law, rule, or regulation.
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`IT is so ORDERED, this mlh day ofNovember, 2013.
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`W 65%
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`Richard Cordray
`Director
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`Consumer Financial Protection Bureau
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