September 02, 2014 1:10 PM ET

Consumer Finance

Company Overview of ACE Cash Express, Inc.

Company Overview

ACE Cash Express, Inc. provides installment loans, title loans, payday/renew loans, prepaid debit cards, cash advances, and auto insurance. The company also provides bill payment, money transfer, security, check cashing, money order, direct deposit, tax check, and online services. It serves customers through stores in the United States. The company was founded in 1968 and is headquartered in Irving, Texas.

1231 Greenway Drive

Suite 600

Irving, TX 75038

United States

Founded in 1968

Phone:

972-550-5000

Fax:

972-550-5150

Key Executives for ACE Cash Express, Inc.

Chief Executive Officer
Age: 51
Chief Financial Officer and Executive Vice President
Chief Operating Officer and Executive Vice President
Chief Information Officer and Senior Vice President of Information Systems
Chief Administrative Officer
Compensation as of Fiscal Year 2014.

ACE Cash Express, Inc. Key Developments

ACE Cash Express Agrees to $10 Million Settlement with Consumer Financial Protection Bureau

The Consumer Financial Protection Bureau (CFPB) announced it had reached a settlement with ACE Cash Express, and that the lender had agreed to pay a $5 million penalty and $5 million in refunds. The CFPB had accused ACE Cash Express of using illegal debt collection practices to pressure borrowers into taking out additional payday loans. ACE used false threats, intimidation, and harassing calls to bully payday borrowers into a cycle of debt. The company said that it has fully cooperated with the CFPB and that it hired Deloitte Financial Advisory Services to review a statistically significant, random sample of collections calls its employees made between March 2011 and February 2012. From that review, the company said 99.5% of customers with a loan in collections for more than 90 days did not take out a new loan with ACE within two days of paying off their existing loan, and 99.1% of customers did not take out a new loan within 14 days of paying off their existing loan. The company settled this matter in order to focus on serving its customers and providing the products and services they count on.

ACE Cash Express, Inc. - Special Call

To discuss Settlement with Consumer Financial Protection Bureau

ACE Cash Express, Inc. to Report Q3, 2014 Results on May 14, 2014

ACE Cash Express, Inc. announced that they will report Q3, 2014 results at 8:00 PM, GMT Standard Time on May 14, 2014

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