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<ACCESSION-NUMBER>0000950134-03-000230
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20021230
<ITEMS>5
<FILING-DATE>20030106
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ACE CASH EXPRESS INC/TX
<CIK>0000849116
<ASSIGNED-SIC>6099
<IRS-NUMBER>752142963
<STATE-OF-INCORPORATION>TX
<FISCAL-YEAR-END>0630
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-20774
<FILM-NUMBER>03504872
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1231 GREENWAY DR STE 800
<CITY>IRVING
<STATE>TX
<ZIP>75038
<PHONE>2145505000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1231 GREENWAY DR #800
<CITY>IRVING
<STATE>TX
<ZIP>75038
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>ACE CASH EXPRESS INC
<DATE-CHANGED>19921016
</FORMER-COMPANY>
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<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d02325e8vk.htm
<DESCRIPTION>FORM 8-K
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<TITLE>Ace Cash Express, Inc.</TITLE>
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<P align="center"><FONT size="4"><b>SECURITIES AND EXCHANGE
COMMISSION</b></FONT>


<DIV align="center"><FONT size="3">Washington, D.C. 20549</FONT></DIV>


<P align="center"><FONT size="5"><b>FORM 8-K</b></FONT>


<P align="center"><FONT size="2"><B>CURRENT REPORT</B><BR>
Pursuant to Section&nbsp;13 or 15(d) of the Securities<BR>
Exchange Act of 1934
</FONT>
<P align="center"><FONT size="2"><B>December&nbsp;30, 2002</B><BR>
(Date of earliest event reported)
</FONT>
<P align="center"><FONT size="6"><b>
ACE CASH EXPRESS, INC.</b></FONT>


<DIV align="center"><FONT size="2">
(Exact name of registrant as specified in its charter)</FONT></DIV>

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    <TD align="center" valign="top"><FONT size="2"><B>Texas</B><BR>
(State or other jurisdiction of<BR>
incorporation)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
<B>0-20774</B><BR>
(Commission file number)
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2"><B>75-2142963</B><BR>
(I.R.S. employer<BR>
identification no.)</FONT></TD>
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<P align="center"><FONT size="2"><B>1231 Greenway Drive, Suite&nbsp;600<BR>
Irving, Texas 75038</B><BR>
(Address of principal executive offices)
</FONT>
<P align="center"><FONT size="2"><B>(972)&nbsp;550-5000</B><BR>
(Registrant&#146;s telephone number,<BR>
including area code)
</FONT>
<P align="center"><FONT size="2"><B>Not Applicable</B><BR>
(Former Name or Former Address,<BR>
if Changed Since Last Report)
</FONT>
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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;5. Other Events</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">SIGNATURES</A></TD></TR>
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<P align="left"><FONT size="2"><B>Item&nbsp;5. Other Events</B></FONT>


<P><FONT size="2">On December&nbsp;30, 2002, the Registrant (&#147;ACE&#148;) entered into separate agreements
to end pending litigation or administrative proceedings with, and to receive
certain licenses from, regulatory authorities in the State of Ohio and Florida.
Also, as of January&nbsp;1, 2003, ACE implemented its transition from offering at
its stores short-term loans made by Goleta National Bank (&#147;Goleta&#148;) to offering
other short-term loans or deferred-deposit-transaction services in accordance
with state law and regulations in various states.
</FONT>
<P><FONT size="2">Agreement with the Ohio Division of Financial Institutions
</FONT>
<P><FONT size="2">ACE&#146;s agreement with the Ohio Division of Financial Institutions ended an
administrative proceeding that the Superintendent of Financial Institutions
initiated against ACE in July 2001. In that proceeding, the Superintendent
sought to cause ACE to cease its activities with Goleta regarding short-term
loans in Ohio. In October 2001, Goleta filed an action in the United States
District Court for the Southern District of Ohio seeking to enjoin the
Superintendent from pursuing the proceeding. On December&nbsp;18, 2002, the federal
court held that Goleta had not suffered any injury or harm by the
administrative proceeding and, therefore, could not maintain its action against
the Superintendent. In dismissing the action, the court did not address the
merits of Goleta&#146;s or the Superintendent&#146;s claims regarding whether Goleta or
ACE was the lender or maker of the short-term loans under Ohio law.
</FONT>
<P><FONT size="2">In the agreement between ACE and the Ohio Division of Financial Institutions:
</FONT>
<P>
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        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">The Superintendent agreed to withdraw the administrative proceeding
and to issue the licenses necessary for ACE to make short-term
consumer loans under the Ohio Small Loan Act.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">ACE agreed to pay $16,000 in licensing fees to the Division of
Financial Institutions and to mail Goleta&#146;s previous borrowers in Ohio
coupons worth a total of approximately $250,000 that can be redeemed
for discounts on future short-term loans made by ACE under Ohio law.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">Agreement with the Attorney General and the Department of Business and Finance
of the State of Florida
</FONT>
<P><FONT size="2">The agreement with the Attorney General and the Department of Business and
Finance of the State of Florida provides for the Attorney General&#146;s dismissal
with prejudice of all its remaining claims against ACE and certain of ACE&#146;s
directors, officers, and employees in the pending Eugene R. Clement v. Ace Cash
Express, Inc. and Neil Gillespie v. Ace Cash Express, Inc. lawsuit in Florida
and the dismissal with prejudice of the Attorney General&#146;s pending appeal of
certain other claims that had been dismissed by the trial court in that
lawsuit. All of those claims related to ACE&#146;s activities as a provider of
deferred-presentment transactions in Florida before short-term loans made by
Goleta were offered at ACE&#146;s stores in Florida. The Attorney General&#146;s claims
to be dismissed are the only ones remaining in that lawsuit.
</FONT>

<P align="center"><FONT size="2">
2</FONT>
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<P><FONT size="2">Also under the agreement, the Department of Business and Finance agreed to
issue the licenses necessary for ACE to act as a Deferred Presentment Provider
in Florida effective December&nbsp;30, 2002, as well as the licenses necessary for
ACE to continue providing third-party bill-payment services in Florida.
</FONT>
<P><FONT size="2">Though neither the Attorney General nor the Department of Business and Finance
had asserted any claims against ACE or Goleta regarding the Goleta loans
offered at ACE&#146;s stores in Florida, ACE agreed to discontinue its services
related to the origination and renewal of Goleta loans in Florida by December
31, 2002, and Goleta and ACE agreed to cancel, and discontinue collection
activities regarding, any Goleta loans made in Florida that were delinquent as
of October&nbsp;1, 2002. ACE does not believe the amount of those canceled loans is
material. ACE may, however, continue to service and collect any other unpaid
Goleta loans after January&nbsp;1, 2003. The Attorney General and the Department of
Business and Finance released ACE, as well as Goleta, from any and all claims
related to the offering of loans, including Goleta loans, in Florida.
</FONT>
<P><FONT size="2">In exchange for the licenses and the full releases from the Attorney General
and the Department of Business and Finance, ACE agreed to pay $250,000 to the
University of Florida law school, to forgive amounts due from the Attorney
General (for court costs and attorneys&#146; fees) that had been awarded to ACE by
the trial court in the Clement lawsuit, and to pay $250,000 to the Department
of Business and Finance.
</FONT>
<P><FONT size="2">Transition to State-regulated Loans
</FONT>
<P><FONT size="2">ACE&#146;s transition from offering Goleta loans to offering state-regulated loans
or similar services or products required it to obtain licenses in certain
states where Goleta loans had been offered and to enter into a relationship
with a Kentucky state bank regarding deferred-deposit services offered in
Arkansas, Pennsylvania, and Texas. As of January&nbsp;1, 2003, ACE was not offering
any alternative loan service or product in any of its stores in Alabama,
Georgia, Maryland, and North Carolina. As of January&nbsp;1, 2003, ACE was offering
a small short-term loan or deferred-deposit service in 861, or approximately
88%, of its Company-owned stores.
</FONT>
<P><FONT size="2">Forward-looking Statements
</FONT>
<P><FONT size="2">The statements made above in this Report contain certain &#147;forward-looking
statements&#148; within the meaning of Section&nbsp;27A of the Securities Act of 1933, as
amended, and Section&nbsp;21E of the Securities Exchange Act of 1934, as amended.
These statements are generally identified by the use of words such as &#147;expect,&#148;
&#147;anticipate,&#148; &#147;estimate,&#148; &#147;believe,&#148; &#147;intend,&#148; &#147;plan,&#148; &#147;should,&#148; &#147;would,&#148; and
terms with similar meanings.
</FONT>
<P><FONT size="2">Although ACE believes that the current views and expectations reflected in
these forward-looking statements are reasonable, those views and expectations,
and the related statements, are based on the assumptions of ACE&#146;s management
and are inherently subject to risks, uncertainties, and other factors, many of
which are not under ACE&#146;s control and may not even be predictable. Any
inaccuracy in the assumptions, as well as those risks, uncertainties, and other
factors, could cause the actual results to differ materially from those
projected in the forward-looking statements. Those risks, uncertainties, and
factors include, but are not limited to:
</FONT>
<P align="center"><FONT size="2">
3</FONT>
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<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">the matters described in ACE&#146;s Annual Report on Form&nbsp;10-K for its fiscal year ended June&nbsp;30, 2002, and its other public
filings;</FONT></TD>
</TR>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">ACE&#146;s relationships with Travelers Express Company, Inc. and its affiliates, and with ACE&#146;s bank lenders;</FONT></TD>
</TR>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">ACE&#146;s relationship with Goleta and the cessation of that relationship;</FONT></TD>
</TR>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">federal and state governmental regulation of check-cashing, short-term consumer lending, and related financial services
businesses;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">the results of litigation regarding short-term consumer lending activities;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
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        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">theft and employee errors; the availability of adequate financing, suitable locations, acquisition opportunities and
experienced management employees to implement the ACE&#146;s growth strategy;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">increases in interest rates, which would increase ACE&#146;s borrowing costs;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">the fragmentation of the check-cashing industry and competition from various other sources, such as banks, savings and
loans, short-term consumer lenders, and other similar financial services entities, as well as retail businesses that offer
products and services offered by ACE;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">the terms and performance of third-party products and services offered at ACE locations; and</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">customer demand and response to products and services offered at ACE locations.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">ACE does not assume, but expressly disclaims, any obligation to update or
revise any of these forward-looking statements, whether because of future
events, new information, a change in ACE&#146;s views or expectations, or otherwise.
ACE makes no prediction or statement about the performance of ACE&#146;s Common
Stock.
</FONT>
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<DIV align="left"><A NAME="001"></A></DIV>
<P align="center"><FONT size="2"><B>SIGNATURES</B></FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
</FONT>
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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top" colspan="3"><FONT size="2"><B>ACE CASH EXPRESS, INC</B></FONT></TD>
</TR>

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    <TD valign="top"><FONT size="2">Dated:</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
January&nbsp;6,&nbsp;2003
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">By:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">/s/ JOE W. CONNER</FONT></TD>
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    <TD align="left" valign="top"><HR size="1" noshade></TD>
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    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Joe W. Conner<br>
Senior Vice President and<br>
Chief Financial Officer</FONT></TD>
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