settlement

FirstCash Holdings settled with the CFPB over Military Lending Act violations, agreeing to pay $5-7 million in consumer redress and a $4 million penalty. The company will introduce specialized pawn lending products for U.S. military personnel. This $9-11 million settlement resolves regulatory disputes and will impact Q2 2025 financial results. Despite maintaining disagreements with the CFPB’s interpretation, CEO Rick Wessel emphasized commitment to military families. Operating over 3,000 pawn stores globally, FirstCash’s core business remains collateral-based lending for credit-constrained consumers. Judicial approval of the settlement is pending. (98 words)

Lightspeed Commerce Inc. has reached an agreement in principle to resolve a proposed class action in Quebec, following the dismissal of a parallel U.S. securities class action. The settlement, subject to court approval, will resolve all claims without Lightspeed admitting liability. Founder & CEO Dax Dasilva stated the settlement allows Lightspeed to focus on strategic growth, for approximately $8.09 million.