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Individuals who received a pawn loan from FirstCash or any of its affiliated companies between Oct. 3, 2016, and Jan. 11, 2026, while they were an active-duty service member or dependent may be eligible to receive a cash payment from a settlement.
FirstCash Inc. and related companies agreed to pay $9 million to settle a Consumer Financial Protection Bureau lawsuit alleging violations of the Military Lending Act and the Consumer Financial Protection Act in connection with pawn loans issued to covered service members and their dependents.
Who is eligible to receive a FirstCash payment?
Individuals must meet the following criteria to be eligible for a payment:
- They received a pawn loan from FirstCash or any of its related entities between Oct. 3, 2016, and Jan. 11, 2025 (the settlement's effective date).
- At the time of the loan, they were a covered military member or dependent as defined by 10 U.S.C. § 987 or a covered borrower under 32 C.F.R. § 232.3.
- The pawn loan had a military annual percentage rate exceeding 36%, included a mandatory arbitration provision or did not meet the disclosure requirements of the MLA, including the requirement that each loan include a statement of the maximum annual pension rate applicable to the loan.
How much are settlement payments?
- Eligible individuals who redeemed their collateral: Individuals who redeemed their collateral can receive 120% of all fees, interest and other charges, excluding principal, they paid to FirstCash in connection with each non-MLA-compliant pawn loan
- Eligible individuals who did not redeem their collateral: Individuals who did not redeem their collateral can receive all fees, interest and other charges they paid to FirstCash in connection with each non-MLA-compliant pawn loan plus an additional amount equal to the full principal amount of each qualifying loan.
No claim form required
Eligible individuals do not need to submit a claim form to receive a settlement payment. To select an electronic payment or update their contact information, qualifying individuals can submit a payment election form online using the unique ID and PIN from the settlement notice they received or complete the form they received with the notice and mail or email it to the settlement administrator.
Settlement administrator's mailing address: FirstCash Settlement, Settlement Administrator, P.O. Box 25191, Santa Ana, CA 92799
Settlement administrator's email address: info@FirstCashSettlement.com
The payment election deadline is Sept. 20, 2026.
Payout options
- Zelle
- PayPal
- Venmo
- Virtual Prepaid Card
- Paper check mailed to the address on file
Settlement fund breakdown
The $9,000,000 settlement fund includes:
- Consumer redress payments: $5,000,000
- Civil penalty: $4,000,000
Important dates
- Effective date of settlement: July 11, 2025
- Deadline to submit payment election form: Sept. 20, 2026
When is the FirstCash settlement payout date?
The settlement administrator will issue payments after it completes the eligibility and calculation process.
Why did this CFPB settlement happen?
The Consumer Financial Protection Bureau filed a lawsuit against FirstCash Inc. and related companies, alleging they violated the Military Lending Act and the Consumer Financial Protection Act. The lawsuit claimed FirstCash issued pawn loans to active-duty service members and their dependents that exceeded the allowable interest rate, included mandatory arbitration provisions or failed to provide required disclosures.
FirstCash denies any wrongdoing but agreed to settle to avoid further litigation. As part of the settlement, the company also agreed to comply with the MLA and either offer an MLA-compliant loan product to service members and their families or comply with a regulatory safe harbor meant to screen for MLA-protected borrowers
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