populus

Populus Financial Group and CFPB agree to stay of CFPB lawsuit pending issuance of Fifth Circuit’s mandate in decision holding CFPB’s funding mechanism is unconstitutional

By Alan S. Kaplinsky & Michael Gordon on November 1, 2022

Posted in CFPB, Regulatory and Enforcement

Pursuant to the agreed motion for a stay filed by the CFPB and Populus Financial Group, Inc., which does business as ACE Cash Express, the Texas federal district court hearing the CFPB’s enforcement action against Populus has stayed the lawsuit until after the Fifth Circuit issues its mandate in Community Financial Services Association of America Ltd.… Continue Reading

Populus Financial Group moves for dismissal of CFPB lawsuit and stay pending Fifth Circuit decision

By Alan S. Kaplinsky on September 29, 2022

Posted in CFPB, Regulatory and Enforcement

Populus Financial Group, Inc., which does business as ACE Cash Express, has filed a motion to dismiss the lawsuit filed by the CFPB in July 2022 against Populus in a Texas federal district court in which the CFPB alleges that Populus engaged in unfair, deceptive, and abusive acts or practices by concealing the option of a free repayment plan to consumers and making unauthorized debit-card withdrawals. … Continue Reading