Attorney General Andrea Campbelll introduced Tuesday that Rent-A-Center had agreed to pay $8.75 million and stop a slate of enterprise practices after an investigation into alleged “abusive” assortment practices.
“I am proud of my team’s dedication in securing a settlement with Rent-A-Center, which sadly utilized egregious tactics to target and exploit low-income communities for profit,” mentioned AG Campbell. “My office will continue to protect all consumers from harmful and exploitive practices by those who do business in our state.”
Campbell’s workplace discovered the Texas-based firm “repeatedly engaged in coercive and abusive conduct towards consumers who missed or otherwise failed to make rental payments under their RAC contracts, leading to significant emotional and financial harm.”
As a part of the settlement, RAC has agreed to the fee and to stop the enterprise practices flagged by the AG.
Home costs prolong file streak
Home costs within the U.S. prolonged their climb, reaching a contemporary file excessive.
A nationwide gauge of costs rose 0.7% in September from August, in line with seasonally adjusted information from S&P CoreLogic Case-Shiller. It was the eighth straight month of beneficial properties for the index, which doesn’t present a selected greenback determine for properties.
Mortgage charges above 7% have chilled the housing market, conserving each would-be consumers and sellers on the sidelines. The persistent stock crunch has pushed costs up for the reason that backside in January.
“Although this year’s increase in mortgage rates has surely suppressed the quantity of homes sold, the relative shortage of inventory for sale has been a solid support for prices,” Craig Lazzara, managing director at S&P Dow Jones Indices, mentioned in a press release Tuesday.
Source: www.bostonherald.com”