Information and Alerts
Alert Details
This business has 1 alert.
Alert
"Community Choice Financial is aware of attempts to fraudulently use the Community Choice Financial name in advance fee loan scams. One or more individuals, with no affiliation to Community Choice Financial, claiming to be doing business as Community Choice Financial solicits consumers across the country approving them for loans. Consumers are asked to pay a fee using a prepaid card, then scratch off the serial number on the back and share it with the scammer. The scammer withdraws all the money from the prepaid cards.
Community Choice Financial takes this and other fraudulent activity very seriously and recognizes that attempts to contact or solicit personal information from consumers constitutes illegal activity. Community Choice Financial never directs its customers to purchase prepaid cards nor does it direct its customers to prepay any fees associated with an extensions of new credit. Customers may report suspicious activity to Community Choice Financial by calling (855) 920-9800.
Community Choice Financial works with authorities to investigate these activities. If you receive a phone call matching the description above, Community Choice Financial encourages you to report the fraudulent activity to your local authorities.
BBB also encourages you to submit a report to BBB Scam Tracker https://www.bbb.org/scamtracker/us"
Important Information
This business is BBB Accredited.
BBB has determined that Community Choice Financial, Inc. meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.
BBB accreditation does not mean that the business's products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business's product quality or competency in performing services.
Additional Info
As of December 20, 2023 Please be advised that due to the high volume of complaints received for this business, BBB may publish 1 out of every 4 complaints handled through our conciliation process.
Additional Info
This government action took place in February 2023 prior to TitleMax being acquired by and becoming part of the Community Choice Financial family of brands later that same year. On February 23, 2023, the Consumer Financial Protection Bureau (CFPB) issued a Consent Order against corporate entities operating under TMX Finance, broadly known as TitleMax, for violating the financial rights of military families and other consumers in providing auto title loans. The CFPB found that TitleMax violated the Military Lending Act by extending prohibited title loans to military families and, oftentimes, by charging nearly three times over the 36% annual interest rate cap. The CFPB also found that TitleMax increased loan payments for borrowers by charging unlawful fees. The CFPB’s order required TitleMax to pay more than $5 million in consumer relief and a $10 million civil money penalty. TMX agreed to the issuance of this Consent Order, without admitting or denying any of the findings of fact or conclusions of law, except to establish the CFPB’s jurisdiction concerning the action. More information concerning this government action is available by calling the CFPB (855) 411-2372 and at this link: https://www.consumerfinance.gov/about-us/newsroom/cfpb-orders-titlemax-to-pay-a-10-million-penalty-for-unlawful-title-loans-and-overcharging-military-families/
Pending Government Action
The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the government's allegations, which have not yet been proven.
On June 14, 2024, the Commonwealth of Pennsylvania Department of Banking and Securities filed an Order To Show Cause docket number 20 0032 BNK-OSC naming TitleMax of Delaware, Inc., TitleMax of Ohio, Inc., TitleMax of Virginia, Inc., TitleMax of South Carolina, Inc., Title Max Funding, Inc., TMX Finance LLC, TMX Finance Corporate Services, Inc., CCFI Companies, LLC, and all successors or predecessors in interest, affiliated, subsidiaries, or parent companies, ordering them to show cause why the Banking and Securities Commission should not impose sanctions and remedies due to alleged violations of law concerning loan maximum lawful interest rates and loan servicing licensing between July 2008 and September 2017, which time frame is prior to TitleMax being acquired by and becoming part of the CCFI / Community Choice Financial family of brands in 2023.
The matter is pending before the Commonwealth of Pennsylvania.
For more details you may wish to contact:
Commonwealth of Pennsylvania Department of Banking and Securities
Market Square Plaza
17 N. Second Street, Suite 1300
Harrisburg, PA 17101
800.722.2657
https://www.dobs.pa.gov/Consumers/Pages/Contact.aspx
https://www.dobs.pa.gov/ForMedia/Pages/2024-Enforcement-Orders.aspx
Service Area
- Adams Mills, OH
- Adamsville, OH
- Adelphi, OH
- Albany, OH
- Alexandria, OH
- Allensville, OH
- Amanda, OH
- Amesville, OH
- Amlin, OH
- Ashley, OH
- Ashville, OH
- Athens, OH
- Bainbridge, OH
- Bakersville, OH
- Baltimore, OH
- Belle Center, OH
- Bellefontaine, OH
- Bexley, OH
- Blacklick, OH
- Bladensburg, OH
- Blissfield, OH
- Bloomingburg, OH
- Blue Rock, OH
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- Bremen, OH
- Brice, OH
- Brinkhaven, OH
- Broadway, OH
- Brownsville, OH
- Buchtel, OH
- Buckeye Lake, OH
- Cable, OH
- Caledonia, OH
- Canal Winchester, OH
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- Carbondale, OH
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- Chester, OH
- Chesterhill, OH
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- Christiansburg, OH
- Circleville, OH
- Clarksburg, OH
- Columbus, OH
- Commercial Point, OH
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- Coolville, OH
- Corning, OH
- Coshocton, OH
- Creola, OH
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- Croton, OH
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- Darbydale, OH
- Darbyville, OH
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- Duncan Falls, OH
- Dundas, OH
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- East Liberty, OH
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- Grove City, OH
- Groveport, OH
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- Jacksonville, OH
- Jeffersonville, OH
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- Kilbourne, OH
- Kingston, OH
- Kirkersville, OH
- La Rue, OH
- Lakeview, OH
- Lancaster, OH
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- Laurelville, OH
- Lewis Center, OH
- Lewistown, OH
- Linworth, OH
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- Logan, OH
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- Lyndon, OH
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- South Bloomfield, OH
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- Summerford, OH
- Summit Station, OH
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- The Plains, OH
- Thornville, OH
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- Trimble, OH
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- Tuppers Plains, OH
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- Valleyview, OH
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- Zaleski, OH
- Zanesfield, OH
- Zanesville, OH
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