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AP National Business

Rent-A-Center settles alleged California overpricing dispute

KTVZ
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Published 3:06 pm

By DON THOMPSON
Associated Press

SACRAMENTO, Calif. (AP) — Officials say one of the nation’s largest rent-to-own companies will pay $15.5 million to settle California’s allegations that it misled and overcharged tens of thousands of customers. Attorney General Rob Bonta said Tuesday that an investigation of the Rent-A-Center’s kiosk business in retail stores found that since 2014 it used an inflated cash price for products that was 15% higher than the true retail price, among other alleged violations. The company will return $13.5 million in the form of restitution to California consumers under the settlement. Rent-A-Center did not immediately respond to requests seeking comment. The company did not admit any violations.

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