Lawsuit Settled Over Car Title Loans In The District | WAMU 88.5 - American University Radio

: News

Lawsuit Settled Over Car Title Loans In The District

Play associated audio

By Matt Bush

A lawsuit involving the District and a Virginia car title lender over loans to D.C. residents the city said violated its laws, has been settled.

The city says Fast Auto Loans will refund all interest paid by more than 100 D.C. borrowers and give back repossessed cars. The company charged annual interest rates of 300 percent, while 24 percent is the maximum allowed under D.C. law.

With auto title loans, borrowers put their vehicles up as collateral, handing over the title and a copy of their keys. Most of the loans by Fast Auto Loans to D.C. residents were made at the company's Alexandria and Manassas offices. Similar settlements were reached with CashPoint and Loan Max last year.


From 'Dragon Tattoo' To The 'Spider's Web': Stieg Larsson's Heroine Returns

The late Stieg Larsson's Millennium series of novels is getting an addition, The Girl in the Spider's Web. The book, written by David Lagercrantz, just got its title and a U.S. release date: Sept. 1.

Our Food-Safety System Is A Patchwork With Big Holes, Critics Say

More than a dozen federal agencies play a part in keeping food from making Americans sick. Critics say the system has gaps, and we'd all be safer if federal food safety efforts were under one roof.

Alabama Judge Says Raising Money To Be Elected Is 'Tawdry'

Mixing judges with campaign contributions can lead to conflicts of interest. Fresh Air talks to retired Judge Sue Bell Cobb and the Center for American Progress' Billy Corriher.

If Drones Make You Nervous, Think Of Them As Flying Donkeys

In Africa, where there aren't always roads from point A to point B, drones could take critical medicines to remote spots. But the airborne vehicles make people uneasy for lots of reasons.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.