US CFPB orders federal supervision for installment lender World Acceptance Corp
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WASHINGTON, Feb 23 (Reuters) - The U.S. Consumer Financial Protection Bureau said on Friday it would establish supervisory authority over World Acceptance Corp after the installment lender contested the designation.
"The CFPB has determined that World Acceptance Corporation has met the legal requirements for supervision," CFPB said in a statement.
"Importantly, the CFPB’s order does not constitute a finding that the entity has engaged in wrongdoing," it said. (Reporting by Eric Beech; editing by Dan Whitcomb)
