Enova Announces Investor Call on June 6th Regarding CFPB Proposed Rule Impact on Consumer Access to Credit
CHICAGO, June 2, 2016 – Enova International, Inc. (NYSE: ENVA), a leading financial technology company offering consumer and small business loans and financing, will hold an investor call on Monday, June 6th to discuss the proposed rule regarding small-dollar loans issued today by the Consumer Financial Protection Bureau (CFPB). The rule is only proposed at this stage and may change before its expected implementation in 2018.
“We have been anticipating this proposed rule for over a year, and we’re confident we have the structure and people in place that will enable us to adapt to the new CFPB rule once it is final,” said David Fisher, CEO of Enova International. “Additionally, we’ve built a multi-faceted business that includes multiple products offered in several countries around the globe, providing us with a diverse stream of revenue and profitability.”
“Enova has long championed industry best practices and efforts to provide for a well-regulated market that protects consumers, and we will work collaboratively to shape the proposed rule to ensure it preserves the ability of millions of Americans to access credit when they need it,” Fisher commented. “We appreciate the CFPB’s efforts to eliminate the bad practices of certain lenders in the industry who, unlike Enova, have not operated in alignment with consumers’ interests. However, we are concerned that the CFPB has put undue burdens on customers to document and verify their income and expenses, and believe the rule has gone too far in restricting the ability of individual consumers to access credit as they need it. These are real concerns for Americans, and we hope the CFPB is open to feedback as it prepares the final rule. Regardless, we believe that Enova is well-positioned to continue to provide high-quality and compliant credit to US consumers. We’ve proven our ability to adapt to regulatory change in other markets and believe we will be able to continue serving the millions of hard-working customers who depend on us.”
The company will hold an investor call to discuss its review of the new rule at 4:00 p.m. Central Time / 5:00 p.m. Eastern Time on Monday, June 6. The live webcast of the call can be accessed at the Enova Investor Relations website at http://ir.enova.com. The U.S. dial-in for the call is 1-855-560-2575 (1-412-542-4161 for non-U.S. callers). Please ask to be joined to the Enova International Call. A replay of the conference call will be available until June 13, 2016, at 10:59 p.m. Central Time / 11:59 p.m. Eastern Time. The U.S. dial-in for the conference call replay is 1-877-344-7529 (1-412-317-0088). The replay access code is 10087359.
For further information:
Public Relations Contact: Caroline Vasquez, Email: media@enova.com;
Investor Relations Contact: Monica Gould, Office: (212) 871-3927, Email: IR@enova.com
About Enova
Enova (NYSE: ENVA) is a leading provider of online financial services to non-prime consumers and small businesses, providing access to credit powered by its advanced analytics, innovative technology, and world-class online platform and services. Enova has provided over four million customers around the globe access to more than $17 billion in loans and financing. The financial technology company has a portfolio of trusted brands serving consumers, including CashNetUSA®, DollarsDirect®, NetCredit, On Stride Financial®, Pounds to Pocket®, QuickQuid® and Simplic®; two brands serving small businesses, Headway Capital® and The Business BackerTM; and offers online lending platform services to lenders. Through its Enova Decisions™ brand, it also delivers on-demand decision-making technology and real-time predictive analytics services to clients. You can learn more about the company and its brands at www.enova.com.
Cautionary Statement Concerning Forward Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about the business, financial condition and prospects of Enova. These forward-looking statements give current expectations or forecasts of future events and reflect the views and assumptions of Enova’s senior management with respect to the business, financial condition and prospects of Enova as of the date of this release and are not guarantees of future performance. The actual results of Enova could differ materially from those indicated by such forward-looking statements because of various risks and uncertainties applicable to Enova’s business, including, without limitation, those risks and uncertainties indicated in Enova’s filings with the Securities and Exchange Commission (“SEC”), including those described under “Risk Factors” in Enova’s annual reports on Form 10-K and quarterly reports on Form 10-Q. These risks and uncertainties are beyond the ability of Enova to control, and, in many cases, Enova cannot predict all of the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. When used in this release, the words “believes,” “estimates,” “plans,” “expects,” “anticipates” and similar expressions or variations as they relate to Enova or its management are intended to identify forward-looking statements. Enova cautions you not to put undue reliance on these statements. Enova disclaims any intention or obligation to update or revise any forward-looking statements after the date of this release.