Attorney General Shapiro Sues Out-of-State Car Title Lender for Violating PA Usury and Racketeering Laws

Attorney General Shapiro Sues Out-of-State Car Title Lender for Violating PA Usury and Racketeering Laws

Lawsuit Seeks reimbursement in excess of $3 Million in prohibited Interest to 3,200 PA customers and also the launch of Over 1,000 Title that is remaining Liens

PHILADELPHIA — Attorney General Josh Shapiro today filed case against A delaware-based automobile name lender for breaking Pennsylvania’s usury and racketeering regulations.

The lawsuit alleges that Dominion handling of Delaware, Inc. And Dominion Management Services, Inc., which did business as CashPoint, issued loans with rates of interest significantly more than 200 % – in certain situations up to 360 % interest. As previously mentioned within the lawsuit, CashPoint loaned significantly more than $2.5 million through 3,200 title that is illegal to Pennsylvania residents. Since 2013, CashPoint has collected $5.7 million from Pennsylvania customers toward payment of those loans – a 128 per cent revenue.

“These defendants thought that simply because they had been located in Delaware they are able to evade Pennsylvania laws and regulations and exploit consumers by billing illegally high interest rates, ” Attorney General Josh Shapiro stated. “By filing this lawsuit, I’m keeping them accountable and working to safeguard customers into the Commonwealth from all of these forms of schemes. 继续阅读“Attorney General Shapiro Sues Out-of-State Car Title Lender for Violating PA Usury and Racketeering Laws”