Upbound Says Consumer Financial Protection Bureau Has Voluntarily Dismissed Lawsuit Against Its Unit Acima Leasing

The CFPB's dismissal follows its multi-year investigation which began prior to Upbound's acquisition of Acima in 2021. Acima will not pay any money, be required to change any business practices, or be subject to any injunctive or other relief, and the dismissal with prejudice ends the CFPB's challenge to the alleged business practices that were the subject of its investigation and lawsuit.

In connection with the CFPB's determination to drop its claims against Acima, Acima has agreed to dismiss the lawsuit it filed against the CFPB in the United States District Court for the Eastern District of Texas, which challenged the CFPB's authority to pursue those claims against Acima.