OKLAHOMA –
Oklahoma Attorney General Gentner Drummond announced Wednesday, Oct. 21, a nearly $664 million settlement with Snap Finance that will eliminate more than $18 million in lease payments owed by Oklahoma consumers.
The settlement follows a multi-state investigation into allegations that the lease-to-own financing company misled customers about contract terms, payment costs and their ability to return merchandise.
Snap Finance is a consumer financial services company that offers lease-to-own (LTO) agreements through merchant partners rather than through its own brick-and-mortar stores like traditional rent-to-own stores.
The attorneys general investigated Snap’s alleged violations of consumer protection laws. According…