Virginia considering regulating car title loans (Richmond Times-Dispatch)
Virginia is considering putting the brakes on the repo man, but there’s disagreement on how to do it. A General Assembly panel yesterday opened hearings on a possible clampdown on car-title loans, under which borrowers—often with poor credit histories—use their cars as collateral and lose them if they fail to repay. The industry, which typically charges 300 percent to 350 percent in annual ...
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