Reported: Snap Finance SNAPF (Company)
Compiled by ScamMarketCap from public recordsHappened Oct 21, 2026United States
Snap Finance offers lease-to-own agreements through partner merchants. State attorneys general alleged that Snap used misleading disclosures, did not let customers see their full contract terms, and led some to believe they had payback windows of 100 days or less when their contracts were longer and cost more. They also alleged that Snap told customers that leasing and paying on time could raise their credit scores, which the states said was not true.
On October 21, 2026, Snap settled with Arkansas, Florida, Georgia, Idaho, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, North Dakota, Oklahoma, Texas, Utah, West Virginia and Wyoming without admitting the allegations. It agreed to cancel $662,102,518 in remaining lease payments for 303,223 consumers who signed leases from 2017 to 2022 and whose accounts had been charged off, and to pay $2.75 million to the states. Texas accounted for 148,295 of those consumers.
The cancellation is automatic, and customers keep their merchandise. Snap also agreed to stop using slogans such as "cash payoff" and "same as cash."
This case file is compiled from public records and established reporting. Status as of the last update, Nov 3, 2026.
Case files summarize court records, regulator actions and established reporting.
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