First Cash Financial Services, Inc. operates retail-based pawn stores in the United States and Latin America. As of December 31, 2015, the company had 1,075 locations, consisting of 338 stores across 14 U.S. states, 705 stores across 29 states in Mexico and 32 stores in Guatemala. The company’s primary business is the operation of full-service pawn stores which make small pawn loans secured by personal property, such as consumer electronics, jewelry, power tools, household appliances, sporting goods and musical instruments. The company’s pawn stores generate significant retail sales from the merchandise acquired through collateral forfeitures and over-the-counter purchases from customers. In addition to its pawn stores, the company operates a small number of consumer finance stores in Texas and Mexico. The company’s stores primarily provide consumer financial services products, including credit services and small unsecured consumer loans. Pawn Merchandise Sales The company’s pawn merchandise sales are primarily retail sales to the general public from its pawn stores. The items that the company sells primarily consist of pre-owned consumer electronics, jewelry, power tools, household appliances, sporting goods and musical instruments. In selected U.S. markets, the company’s pawn stores also sell certain types of firearms. The company also melts down certain quantities of scrap jewelry and sells the gold, silver and diamonds in commodity markets. Pawn Lending Activities The company’s pawn stores make small loans to its customers to help them meet short-term cash needs. All pawn loans are collateralized by personal property, such as consumer electronics, jewelry, power tools, household appliances, sporting goods and musical instruments. In selected U.S. stores, pawn loans could also be collateralized with firearms. Pawn loans are non-recourse loans and the pledged goods provide the only security to the company for the repayment of the loan. Credit Services and Consumer Loan Activities The company offers a fee-based credit services organization program (CSO Program) to assist consumers in Texas markets in obtaining extensions of credit. The company’s consumer loan and pawn stores in Texas offer the CSO Program, and in Texas, credit services are also offered through an Internet platform for Texas residents. The company also offers an automobile title lending product under the CSO Program. The company also offers small, unsecured consumer loans to customers in various states within the U.S. and in Mexico. Strategy The company’s strategy is to focus on growing its full-service pawn operations in the United States and Latin America through new store openings and strategic acquisition opportunities as they arise. Intellectual Property First Cash and First Cash Pawn are registered trademarks in the United States. Other significant trade names used by the Company include First Cash Empeno, First Cash Advance, Presta Max, Famous Pawn, Fast Cash Pawn & Gold Center, King Pawn, Mister Money Pawn, Money Man Pawn, Valu + Pawn, Dan’s Discount Jewelry & Pawn, Cash America (in Mexico and Colorado), Quick Cash, Empenos Mexicanos and Realice Empenos. Governmental Regulation In connection with credit services/consumer loan transactions, the company must comply with various disclosure requirements under the Federal Truth in Lending Act (and Federal Reserve Regulation Z promulgated thereunder). Additionally, the company is subject to the Federal Fair Debt Collection Practices Act (FDCPA) and applicable state collection laws when conducting its collection activities. FinCEN (Financial Crimes Enforcement Network of the Treasury Department) adopted additional regulations, implementing the Bank Secrecy Act that also addresses money services businesses. These regulations require money services businesses, such as the company, to report suspicious transactions involving approximately $2,000 to FinCEN. Under the USA PATRIOT Act passed by Congress in 2001 and revised in 2006, the company is required to maintain an anti-money laundering compliance program. The Gramm-Leach-Bliley Act requires the company to g
first cash finl svcs inc
690 East Lamar Boulevard
Arlington, TX 76011
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