Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 194

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1A
Chunk 194
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 15 years in IT and cybersecurity experience with
the Company and has earned industry certifications in IT. The Senior Vice President of Systems and the Vice President of IT report to
the Executive Vice President of Risk, Systems, and IT.

The Senior Vice President
of Systems and the Vice President of IT work directly with the internal and external IT personnel to implement our information security
policies and processes, including those described in the “Risk Management and Strategy” above. They are informed about and
monitor the prevention, detection, mitigation, and remediation or prevention of cybersecurity incidents through those processes. They
regularly report on the status of these matters to the Executive Vice President of Risk, Systems, and IT.

The Board, as a whole, is
responsible for risk oversight, including cybersecurity risk. As part of this oversight, the Executive Vice President of Risk, Systems,
and IT reports to the Board annually on the status of and developments in the Company’s information security policies and processes.

Item 2.  Properties

Our principal executive offices
are located in Las Vegas, Nevada, where we currently lease approximately 45,000 square feet of general office space from an unaffiliated
lessor. The annual base rent is approximately $1.6 million through 2029.

Our operating headquarters
are located in Irvine, California, where we currently lease approximately 69,000 square feet of general office space from an unaffiliated
lessor. The annual base rent is approximately $2.5 million through 2029.

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The remaining three regional
servicing centers occupy a total of approximately 65,000 square feet of leased space in Chesapeake, Virginia; Maitland, Florida; and Oak
Brook, Illinois. The termination dates of such leases range from 2025 to 2031. The annual base rent for these facilities total approximately
$1.4 million.

Item 3.  Legal Proceedings

Consumer Litigation.
We are routinely involved in various legal proceedings resulting from our consumer finance activities and practices, both continuing and
discontinued. Consumers can and do initiate lawsuits against us alleging violations of law applicable to collection of receivables, and
such lawsuits sometimes allege that resolution as a class action is appropriate. For the most part, we have legal and factual defenses
to consumer claims, which we routinely contest or settle (for immaterial amounts) depending on the particular circumstances of each case.

Following our filing of a
complaint for a deficiency judgment in