LOS ANGELES — National rent-to-own giant Rent-A-Center will pay $15.5 million to settle a lawsuit that alleged the company had engaged in unlawful business practices including overcharging customers and failing to inform them of their rights, California Attorney General Rob Bonta said Tuesday.
As part of the settlement, which is still subject to approval, Rent-A-Center would pay $13.5 million in restitution to thousands of customers and $2 million in civil penalties.
"Rent-A-Center repeatedly relied on deceptive and unlawful tactics to pad its bottom line," Bonta said in a release. "We won't stand by when a company like Rent-A-Center overcharges these hardworking Californians, taking money that is needed for rent, food, or other essential expenses."
