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

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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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