Under a settlement announced this week by California Attorney General Bill Lockyer, the nation’s largest rent-to-own business, Rent-A-Center, Inc. (RAC), will pay more than $7 million in restitution to thousands of California customers.

The settlement comes out of a consumer protection lawsuit brought by Lockyer. “Our economic system is not driven solely by the profit motive,” said Lockyer. “To function properly, businesses must deal fairly and honestly with consumers. Rent-A-Center flouted this fundamental principle, violated state law and harmed consumers. This settlement not only will provide restitution to thousands of victims, but also ensure the company reforms its business practices to conform with the law.”

The settlement resolves a lawsuit that alleged RAC failed to disclose the true cost of its rent-to-own program to California consumers. In addition to the $7 million in restitution, RAC will deposit more than $7 million into a special consumer protection trust fund.