The Consumer Financial Protection Bureau has announced a settlement with Tempoe, LLC, an Ohio-based finance company, that will provide over $450,000 to Guam residents affected by a point-of-sale financing scheme.

 

Tempoe, LLC provided financing at major retailers, including Sears and K-Mart, but failed to disclose key terms in their lease agreements, resulting in unfair practices that left many consumers unaware of additional fees and penalties. 

The CFPB settlement totals $191 million for customers nationwide, including $451,341 for Guam consumers.

Guam residents who used Tempoe financing between 2015 and 2022 and believe they may be eligible for compensation are encouraged to contact the CFPB directly at [email protected] or call (855) 411-CFPB. 

This settlement provides relief to consumers and releases them from existing lease agreements that resulted from these practices.