NEW YORK (TheStreet) -- Small loan and credit services company World Acceptance (WRLD) - Get Report has seen its stock dip sharply after announcing that the Consumer Financial Protection Bureau has launched an investigation into its business practices. The Consumer Investigative Demand issued by the agency wants to determine whether the company has engaged in illegal acts involving marketing, offering, or extending credit, according to a filing by the company.
World Acceptance has plunged as much as 18.17% today and at last check was trading at $79.51, down $16.30 since the opening bell.
Must Read: Warren Buffett's 10 Favorite Stocks
The company believes that its marketing practices are sound and is cooperating with the investigation. Stocks across the sector have gone down, however, with Cash America (CSH) , Regional Management (RM) - Get Report, DFC Global (DLLR) and First Cash (FCFS) - Get Report all experiencing sharp declines in the aftermath of the investigation revelation.