Fortress Investment Group – OneMain Financial, ZestFinance, Cash Converters

The report details Fortress Investment Group's ownership and funding of several high-interest lending entities. It describes OneMain Financial as the largest subprime consumer lender in the US, noting its use of ancillary insurance products and lobbying efforts to relax state lending restrictions. The text also covers Fortress's $150 million debt financing for ZestFinance, which operates Spotloan using a tribal partnership to bypass state usury laws, and its AUS$100 million facility for Australia's Cash Converters, a firm facing multiple class action lawsuits over fees. Additionally, it notes a $3.28 million CFPB penalty against Fortress-owned Security National Automotive Acceptance Corp for illegal debt collection practices targeting US servicemembers.

• Fortress Investment Group owns OneMain Financial, which became the largest subprime consumer lender in the United States after combining Springleaf Financial and Citigroup's OneMain in 2015, operating 1,700 branches in 44 states and generating $9.4 billion in loan volume in 2016.
• OneMain Financial employs practices that increase borrower costs beyond its reported 36% interest cap, including selling ancillary insurance through a wholly owned subsidiary and charging prepaid finance fees, such as in Missouri where fees can be the lesser of 5% of principal or $75 per loan.

APA

Private Equity Stakeholder Project (2017). Fortress Investment Group – OneMain Financial, ZestFinance, Cash Converters. https://pestakeholder.org/reports/fortress-investment-group-onemain-financial-zestfinance-cash-converters/

Chicago

Private Equity Stakeholder Project. Fortress Investment Group – OneMain Financial, ZestFinance, Cash Converters. 2017. https://pestakeholder.org/reports/fortress-investment-group-onemain-financial-zestfinance-cash-converters/.

Wikipedia

{{cite report |author=Private Equity Stakeholder Project |title=Fortress Investment Group – OneMain Financial, ZestFinance, Cash Converters |date=11 December 2017 |url=https://pestakeholder.org/reports/fortress-investment-group-onemain-financial-zestfinance-cash-converters/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{privateequitystakeholderproject2017fortress, author = {{Private Equity Stakeholder Project}}, title = {{Fortress Investment Group – OneMain Financial, ZestFinance, Cash Converters}}, institution = {Private Equity Stakeholder Project}, year = {2017}, month = dec, url = {https://pestakeholder.org/reports/fortress-investment-group-onemain-financial-zestfinance-cash-converters/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }