The Consumer Financial Protection Bureau has ended its investigation into the marketing and lending practices of World Acceptance Corporation, a self-described "small-loan consumer finance" company. World Acceptance generates the bulk of its revenue through refinancings. As ProPublica has explained, here, the company makes installment loans with "sky-high rates" and generates revenue by charging interest up front and then encouraging borrowers to renew repeatedly.
The CFPB began the investigation in 2015. According to Business Wire, the agency has now stated that it will not be taking enforcement action.
