Car title loaner barred from doing business in Massachusetts

[unhappycamper]

http://www.bostonherald.com/news/local_coverage/2016/03/car_title_loaner_barred_from_doing_business_in_massachusetts

Car 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.

[Turbineguy]

1. Outrageous!

How do they expect an honest republican to make a living?

[gregcrawford]

2. "Honest Republican?!!?"

That's a contradiction in terms. If it was honest, it wouldn't be a Republican!

[paleotn]

3. Way to go Mass!

AG Roy Cooper ( and with some luck our next governor) was instrumental in making legal loan sharking illegal in North Carolina. But just across the border in TN, it's a whole different story. There's a financial parasite on every corner.