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Important information
- Government Actions:Government Action: BBB reports on known government actions involving business’ marketplace conduct:Gov. Action
On August 2, 2022, California Attorney General Rob Bonta announced a $15.5 million settlement with Rent-A-Center, based on alleged violations of state consumer protection laws relating to unlawful leasing practices and deceptive marketing. An investigation into Rent-A-Center's "kiosk" business that operates out of traditional retail stores alleged that the company used an inflated "cash price" for products that was 15% higher than the retail price, potentially costing consumers hundreds of extra dollars, among other allegations. The case was settled by the parties, and as part of the settlement, Rent-A-Center did not admit to any violations of law or any wrongdoing.
As part of the stipulated judgment resolving the Attorney General's investigation, Rent-A-Center agreed to comply with significant injunctive terms to deter future misconduct, pay $13.5 million in restitution to California consumers, and pay $2 million in civil penalties.
A copy of the stipulated judgment is available here: https://oag.ca.gov/system/files/attachments/press-docs/Stipulation%20and%20Signed%20Judgment_Redacted.pdf
A copy of the complaint is available here: https://oag.ca.gov/system/files/attachments/press-docs/Complaint%20%283%29.pdf
To view the Press Release go to: https://oag.ca.gov/news/press-releases/attorney-general-bonta-announces-155-million-judgment-against-rent-center
Overview
BBB Accreditation & Rating
Business Details
- Local BBB:
- BBB serving North Central Texas
- BBB File Opened:
- 11/2/1999
- Business Started:
- 9/16/1986
- Business Started Locally:
- 9/16/1986
- Business Incorporated:
- 9/20/1983
- Type of Entity:
- Corporation
- Alternate Names:
- Upbound Group, Inc
- Home Choice
- Get it Now!
- RAC Acceptance
- Rentway
- Acceptance Now
- Rent-A-Center
- Preferred Lease
- Business Management:
- Mr. Bryan J Pechersky, Secretary
- Mr. Fahmi Karam, CFO
- Mr. John Tschirhart, Vice President
- Mr. Jeff Fair, Vice President
Additional Contact Information
- Principal Contacts
- Mr. Bryan J Pechersky, Secretary
- Mr. Mitchell Fadel, CEO
- Mr. Fahmi Karam, CFO
- Mr. John Tschirhart, Vice President
- Mr. Jeff Fair, Vice President
- Customer Contacts
- Consumer Affairs Team
- Mr. Mitchell Fadel, CEO
- Fax numbers
- Primary Fax: (866) 680-0574
Additional Information
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