Progressive Leasing Finalizes Agreement with FTC
"This settlement allows Progressive to stay focused on continuing to offer competitive, flexible and affordable purchase options to credit-challenged consumers while delivering an exceptional and fully transparent lease-to-own experience. Although we disagree with the
"Transparency has always been a cornerstone of our virtual lease-to-own model, and we remain confident in the integrity of Progressive's business and compliance practices. Consistent with our culture of continuous improvement, we have further enhanced consumer disclosures, expanded field training and testing, and continue to invest in these areas on behalf of our customers and retailers," said
As one of the nation's leading and most innovative virtual lease-to-own providers, Progressive continuously solicits feedback to enhance its program and better serve customers:
- Progressive maintains an overall customer complaint rate of less than 1%.
Net Promotor Score(NPS), a measure of customer satisfaction, is significantly higher than the average NPS score of financial services firms.
- More than 35% of new leases are attributable to repeat customers.
- With over 12,000 customer reviews, Progressive enjoys a Google rating of 4.8/5.0.
Progressive recorded a charge of approximately
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Aaron's, Inc., Michael P. Dickerson, Vice President, Corporate Communications & Investor Relations, 678-402-3590, email@example.com