World Acceptance Corporation.
WRLD.US | Other credit granting
World Acceptance Corporation is a financial services company focused on providing short-term small loans and related services to individuals with limited access to traditional banking institutions. The company operates through a network of branch locations, primarily in the United States. Their core...Show More
Better Health for All
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The company's core business model, which includes high rates of loan refinancings (over 70% of originations in 2023 and 63.9% in FY2022) and packaging 'nearly useless' insurance products, significantly increases interest paid by borrowers.
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These practices, along with reported harassing collection practices, are identified as posing risks to consumers and are likely to cause financial distress, which has well-established negative mental health consequences for its target demographic of low-income borrowers.
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The company's primary revenue streams are from loan interest, fees, and ancillary products like credit insurance, which are implicated in these harmful practices.
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The company targets low-income borrowers and individuals with limited credit history, and its business model, as described, creates significant financial barriers for these vulnerable populations.
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The CFPB has asserted supervisory jurisdiction over the company due to concerns about bundled loans and insurance, harassing collection practices, inaccurate credit reporting, and high refinance rates, implying a lack of transparency regarding the true cost and risks of its products.
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The company's reliance on loan renewals and high-cost products for a vulnerable customer base suggests a business model that could be considered financially detrimental, akin to addiction, for its customers, with no evidence of mitigation efforts or support for those affected.
Fair Money & Economic Opportunity
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No information could be extracted from the provided articles as both links were inaccessible. resulted in a 404 error
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, and reported a throttling issue preventing content retrieval
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. Therefore, no assessment against the ethical value 'Fair Money & Economic Opportunity' can be made based on the given evidence.
Fair Pay & Worker Respect
0
No evidence available to assess World Acceptance Corporation on Fair Pay & Worker Respect.
Fair Trade & Ethical Sourcing
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World Acceptance Corporation is a financial services company providing loans and insurance.
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Its business model does not involve the procurement or trading of physical commodities, nor does it have a supply chain that requires welfare or sourcing audits, or exposes it to upstream labor practices related to physical goods. Therefore, all KPIs related to fair trade certification, supplier audits, forced/child labor incidents, supply chain traceability, remediation for sourcing violations, ethical sourcing clauses, high-risk materials, and supplier diversity spend in the context of physical goods are not applicable to its operations.
Honest & Fair Business
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No evidence available to assess World Acceptance Corporation on Honest & Fair Business.
Kind to Animals
0
No evidence available to assess World Acceptance Corporation on Kind to Animals.
No War, No Weapons
0
No evidence available to assess World Acceptance Corporation on No War, No Weapons.
Planet-Friendly Business
0
The provided articles explicitly state a lack of available quantitative data, ESG metrics, environmental performance details, regulatory actions, or responsibility reports for World Acceptance Corporation.
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Therefore, no KPIs related to Planet-Friendly Business can be scored based on the evidence provided.
Respect for Cultures & Communities
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No specific, concrete data points were found in the provided articles to assess World Acceptance Corporation against the defined KPIs for 'Respect for Cultures & Communities'. The articles primarily discuss available company documents
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, a 'Most Trustworthy Companies' recognition
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, and details of FCPA violations related to bribery in Mexico
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, none of which directly provide quantitative or qualitative evidence for the specified cultural and community engagement metrics.
Safe & Smart Tech
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The company's privacy policy only outlines the user's right to opt-out of marketing emails and text messages, indicating minimal user control over their data.
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Furthermore, consumer complaints frequently reference violations of federal laws regarding financial privacy (15 USC 1681 Section 602, 604(a)(2), 1666(b)) and the Fair Credit Reporting Act (FCRA), including issues such as inaccurate credit reporting and violation of 15 U.S. Code § 1681e (compliance procedures).
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These complaints suggest basic compliance with major regulations but with significant gaps.
Zero Waste & Sustainable Products
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No specific, concrete evidence was found for WRLD.US regarding any of the Zero Waste & Sustainable Products KPIs. The provided articles discuss general circular economy principles, EU regulations, and the sustainability efforts of other companies (Walmart
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, Yum! Brands
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), but do not contain any data points directly attributable to World Acceptance Corporation.