McAuliffe Threatens Executive Action After Regulators Decline to Crack Down on Car Title Lenders


Credit Creative Commons

Earlier this year, Virginia lawmakers were considering several bills that would have cracked down on the car-title lending industry, a business that’s come under increasing scrutiny and mounting criticism. None of those bills passed, although two powerful state senators wrote a letter to regulators asking them to take care of it. Now Michael Pope has the latest twist in the ongoing investigation – state regulators now say they don’t have the authority to take action.

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