ATLANTA, Feb. 21, 2020 /PRNewswire/ -- Aaron's, Inc.
(NYSE: AAN), a leading omnichannel provider of lease-purchase
solutions, today announced that the Federal Trade Commission (the
"FTC") has approved for public comment a proposed consent agreement
regarding future contingent purchases and sales of customer lease
agreements with other rent-to-own companies. As previously
disclosed, the Company reached agreement with FTC staff on the
terms of the proposed settlement in August 2019.
With the FTC's announcement today, the proposed consent
agreement is now subject to a 30-day public comment period after
which the FTC will decide whether to make the proposed agreement
final.
In connection with the FTC's decision to approve the proposed
consent agreement for public comment, Aaron's released the
following statement:
The proposed consent agreement
allows us to focus on our business. Under the agreement, there are
no fines, penalties, admission of wrongdoing, fault or liability on
the part of the Company. This agreement is not expected to affect
our go-forward business or operations.
About Aaron's, Inc.
Headquartered in Atlanta,
Aaron's, Inc. (NYSE: AAN), is a leading omnichannel provider of
lease-purchase solutions. Aaron's Business engages in the sales and
lease ownership and specialty retailing of furniture, consumer
electronics, home appliances and accessories through its
approximately 1,500 company-operated and franchised stores in 47
states and Canada as well as its
e-commerce platform, Aarons.com. In addition, Progressive Leasing,
a virtual lease-to-own company, provides lease-purchase solutions
through over 20,000 retail locations in 46 states. Vive Financial
(formerly Dent-A-Med, Inc.), provides a variety of second-look
credit products that are originated through federally insured
banks. For more information, visit Aarons.com, ProgLeasing.com, and
Vivecard.com.
Contact:
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Aaron's,
Inc.
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Michael P.
Dickerson
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Vice President,
Corporate Communications & Investor Relations
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678-402-3590
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mike.dickerson@aarons.com
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SOURCE Aaron's, Inc.