The World Acceptance Debacle Everyone Should Know About | Exploring Markets

The World Acceptance Debacle Everyone Should Know About

World Acceptance Group, or ticker WRLD, is a sub prime lender. It has a market cap above 1 Billion dollars. Yes, in a world nearly crippled by subprime lending, one still exists.

Here are few snippets from Pro Republica and Citron to introduce you to the company:
With few exceptions, World requires its customers to pledge personal possessions as collateral that the company can seize if they don't pay. The riskier the client, the more items they were required to list, former employees say.
Sutton offered two of her family's televisions, a DVD player, a PlayStation and a computer. Together, they amounted to $1,600 in value, according to her contract. In addition, World listed her car.
and here is Citron: 
An outstanding piece of journalism, just published by Pulitzer Prize
winning ProPublica, which has no dog in the fight with regard to the
stock or the market, has served up World Acceptance on a silver
platter to the enforcers at the CFPB. They convincingly document
how WRLD is engaged in systematic fraud by forcing unsuspecting
customers to buy credit insurance.

Citron on World Acceptance Group: http://www.citronresearch.com/wp-content/uploads/2013/05/WRLD-revisited-2013-final.pdf

Pro Republica on World Acceptance Group: http://www.propublica.org/article/installment-loans-world-finance