Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Car title loaner barred from doing business in Massachusetts [View all]
http://www.bostonherald.com/news/local_coverage/2016/03/car_title_loaner_barred_from_doing_business_in_massachusettsCar title loaner barred from doing business in Massachusetts
Associated Press Friday, March 18, 2016
BOSTON — An online auto title lender based on a remote South Pacific island that charges triple-digit interest rates has been ordered to stop doing business in Massachusetts.
Attorney General Maura Healey announced Friday that a judge has issued a preliminary injunction barring Liquidation LLC from making and collecting on loans.
Healey says the company, which uses several names, preys on financially-desperate consumers by providing vehicle title loans, often seizing and selling vehicles when owners default.
She says the company is not licensed to do business in the state and has victimized more than 200 Massachusetts consumers with interest rates as high as 619 percent.
3 replies
= new reply since forum marked as read
= new reply since forum marked as read