CURO Responds to Federal Government of Canada's Proposed 2023 Budget
30 Marzo 2023 - 8:02AM
Business Wire
CURO Group Holdings Corp. (NYSE: CURO) (“CURO” or “Company”), a
tech-enabled, omni-channel consumer finance company serving
non-prime and prime consumers in the U.S. and Canada, responds to
the federal government of Canada’s proposed 2023 Budget.
On March 28, 2023, the federal government of Canada announced,
in connection with its proposed federal budget, its intent to
introduce legislation to reduce the maximum allowable rate of
interest under its criminal code from an annual percentage rate
(“APR”) of 47% to an APR of 35% (the “Proposal”). In connection
with the Proposal’s announcement, CURO issued the following
statement:
“We are proud of the work we do to provide timely, transparent,
affordable and convenient financial solutions to customers who are
underserved by mainstream banks, credit card companies and other
traditional financial services companies.
As with any proposals or plans by governmental agencies, there
will be a process undertaken before any final rule or law is
adopted related to the Proposal and any such final rule or law may
differ materially from the Proposal. During this process, we look
forward to working with the federal government of Canada and other
industry participants to demonstrate how our customers will be
harmed by the Proposal, particularly at a time when they need a
financial service like ours more than ever.
We believe it is too early to determine the long-term impact of
the Proposal on the Company’s businesses considering no draft
legislation or legislative commentary is available. Accordingly, we
will continue to monitor the Proposal and assess its implications
as more is known and we will continue to manage our business to
serve our customers and maintain an appropriate level of risk
adjusted returns for the Company.”
ABOUT CURO
CURO Group Holdings Corp. (NYSE: CURO) is a full-spectrum
consumer credit lender serving U.S. and Canadian customers for over
25 years. Our roots in the consumer finance market run deep. We’ve
worked diligently to provide customers a variety of convenient,
easily accessible financial services. Our decades of alternative
data power a hard-to-replicate underwriting and scoring engine,
mitigating risk across the full spectrum of credit products. We
operate a number of brands, including Cash Money®, LendDirect®,
Flexiti®, Heights Finance, Southern Finance, Covington Credit,
Quick Credit and First Heritage Credit.
(CURO-NWS)
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Investor Relations: Phone: 844-200-0342 Email: IR@curo.com
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