JLL Partners – ACE Cash Express

The document details how JLL Partners took ACE Cash Express private in 2006 and the subsequent legal and regulatory challenges faced by the lender. ACE Cash Express, which operates over 1,000 locations in 23 states, has been cited for charging interest rates up to 661% APR and using coercive tactics to trap borrowers in debt cycles. The report highlights multiple settlements, including a $10 million payment to the Consumer Financial Protection Bureau in 2014 and various penalties from state regulators in California and Washington.

• ACE Cash Express employs high-interest lending practices, charging up to 661% APR on fourteen-day loans and offering long-term payday loans with rates exceeding 200% APR.
• In 2014, ACE Cash Express paid $10 million to settle allegations from the Consumer Financial Protection Bureau (CFPB) regarding the use of illegal tactics and false threats to pressure overdue borrowers into further debt.
• The lender has faced repeated regulatory actions in California, including a 2010 settlement involving 2,512 citations and a $118,400 penalty, and a 2015 attempt by the California Commissioner of Business Oversight to suspend its license.
• In 2016, the Washington Department of Financial Institutions found that ACE had issued over 700 prohibited payday loans to more than 360 borrowers, leading to a consent order and fine.
• The New Jersey State Investment Council considered exiting its commitment to a JLL Partners fund because New Jersey law prohibits the operation of payday lenders within the state.

APA

Private Equity Stakeholder Project (2017). JLL Partners – ACE Cash Express. https://pestakeholder.org/reports/jll-partners-ace-cash-express/

Chicago

Private Equity Stakeholder Project. JLL Partners – ACE Cash Express. 2017. https://pestakeholder.org/reports/jll-partners-ace-cash-express/.

Wikipedia

{{cite report |author=Private Equity Stakeholder Project |title=JLL Partners – ACE Cash Express |date=11 December 2017 |url=https://pestakeholder.org/reports/jll-partners-ace-cash-express/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{privateequitystakeholderproject2017jll, author = {{Private Equity Stakeholder Project}}, title = {{JLL Partners – ACE Cash Express}}, institution = {Private Equity Stakeholder Project}, year = {2017}, month = dec, url = {https://pestakeholder.org/reports/jll-partners-ace-cash-express/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }