Cash America International was founded by Jack Doherty in Irving, Texas in 1983 as a single pawnshop.
Cash America grew through rapid acquisition and soon became a chain. The company went public in 1990, trading on the New York Stock Exchange under the symbol CSH. The company was acquired by Cash First in September of 2016 for $994 million. This acquisition has made the company private once again.
The company expanded to Sweden and the U.K. in 1995.
In 2003 Cash America merged with Cashland with a combined volume of $5 billion dollars in loans.
In 2006 the company bought Enova Financial to create an internet-based division.
Today Cash America operates more than 960 stores under the names Cash America Pawn, SuperPawn, and Pawn X-Change in the United States and Cash America Casa de Empeño in Mexico.
In addition to operating pawn shops, the company also provides check-cashing services and short-term unsecured loans (payday loans) through its pawnshops, self-standing facilities, as well as online.
Cash America had revenue of $1.8 billion in 2013.
The Consumer Financial Protection Bureau (CFPB) took its first-ever enforcement action against a payday lender in November 2013 when it ordered Cash America International, Inc. to refund consumers for incorrect revision of loan agreements.
The CFPB also found Cash America guilty of violating the Military Lending Act by illegally overcharging service members and their families with high interest rates on loans.
Cash America will pay $14 million in refunds to consumers and $5 million in fines for destroying records in advance of the CFPB’s investigation.