Florida Attorney General James Uthmeier announced a settlement with Snap Finance, a consumer financing company.
Similar settlements were reached with the company in Missouri and Idaho.
He said the settlement will deliver over $135 million in lease forgiveness for Floridians. Over 62,000 residents of Florida will see relief, he said.
Our office secured a settlement with Snap Finance delivering more than $135 million in lease forgiveness for over 62,000 Floridians.
Predatory leases from 2017–22 are wiped clean, and there will be clear rules and accountability going forward. We hold companies to their word. https://t.co/y3Zmmws6bv
— Attorney General James Uthmeier (@AGJamesUthmeier) October 29, 2026
He commented that predatory lease-to-own financing agreements from 2017 and 2022 will be wiped clean under the settlement, and his office will set stricter regulations going forward to prevent predatory financing from happening again.
"Predatory leases from 2017–22 are wiped clean, and there will be clear rules and accountability going forward. We hold companies to their word," he wrote in a social media post.
The consumers who leased the property will be transferred ownership of the property even if an applicable lease isn't paid off, he added.
"Many people entered these agreements thinking they were getting straightforward financing," he said in a video posted on X. "Too often, the true costs and the fact that these were leases, not loans, were not clear enough."
Going forward, Snap Finance will have to stop "misleading advertising," advertise the full cost more prominently than the early payoff cost, give consumers the option to terminate or return the property and properly train the people offering the financing options.
He said the company promoted its financing options with slogans like, "the same as cash" and more.
"Annual compliance reporting will keep them accountable," Uthmeier said. "If you had a lease with Snap Finance during those years, watch out for notice from the company. In Florida, we hold companies to their word. This settlement puts money and property back into the hands of Florida consumers and ensures clear rules going forward."
