EZCorp to cut almost 100 Austin jobs after abandoning payday lending

Layoffs are expected to occur in Austin after EZCorp Inc. announced they will be stopping their payday-lending services to its customers and focus more on their pawnshop services. In the report of Austin American-Statesman, the company’s decision to lay off its workers is due to the impacts of stronger regulations on payday lending in the state, affecting their income and investors. The company also expressed that they are also finding it hard to work in the state due to the lack of competition and aims to venture to other lending operations around the country.

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