#TitleMax Demands High-Interest Payments From Borrowers in #Bankruptcy
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In #Georgia, borrowers looking to alleviate debt through Chapter 13 bankruptcy can’t escape their high-interest title pawns thanks to a legal loophole that TitleMax helped secure.

#Loans #Lending #PersonaFinance #Money #News

https://www.propublica.org/article/why-title-lenders-excluded-chapter-13-bankruptcy-georgia?utm_medium=social&utm_source=mastodon&utm_campaign=mastodon-post

How Georgia’s Top GOP Leaders Have Blocked Title Lending Reform

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TMX Finance and Select Management Resources, the owners of two major title lending brands, have been cozying up to #Georgia lawmakers in a position to bottleneck industry reform.

#Loans #Lending #TitleLoans #TitleMax #LoanMax #PersonalFinance #PredatoryLending

https://www.propublica.org/article/how-gop-leaders-block-title-lending-reform-georgia?utm_medium=social&utm_source=mastodon&utm_campaign=mastodon-post

Consumer lender TMX discloses data breach impacting 4.8 million people

https://www.bleepingcomputer.com/news/security/consumer-lender-tmx-discloses-data-breach-impacting-48-million-people/
#DataBreach #CyberSecurity #TMX #TitleMax #TitleBucks #InstaLoan #SecurityBreach

CFPB Fines TitleMax $15 Million for Predatory Lending
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The federal consumer watchdog says Georgia-based #TitleMax intentionally evaded laws meant to protect military families from predatory lenders.

It's also accused of charging illegal insurance fees to more than 17,000 customers

#CFPB #Regulation #Lending #Loans #TitleLoans #Georgia

https://www.propublica.org/article/consumer-financial-protection-bureau-fines-titlemax-15-million-for-predatory-lending?utm_medium=social&utm_source=mastodon&utm_campaign=mastodon-post

TitleMax fined $10M and ordered to return $5M to consumers by the Consumer Financial Protection Bureau (CFPB). TitleMax is a repeat offender, previously being fined $9M in 2016.

As SCOTUS has increasingly held that "corporations are people" why don't we see these entities (and their directors) face criminal charges as often as we do the public?

🌐 https://www.consumerfinance.gov/about-us/newsroom/cfpb-orders-titlemax-to-pay-a-10-million-penalty-for-unlawful-title-loans-and-overcharging-military-families/

#CFPB #Consumer #Protection #Finance #Corporations #TitleMax @rbreich

Inside the Controversial Sales Practices of the Nation’s Biggest Title Lender
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Former #TitleMax store managers told ProPublica & The Current that they faced repercussions for telling customers how to pay off their #debt quickly or in full.

“I carry a lot of guilt,” said Cordelius, who managed a TitleMax store in #Georgia. “My community trusted me. What the company was selling to the community wasn’t good for them.”

#Loans #TitleLoans #PersonalFinance #Credit

https://www.propublica.org/article/inside-sales-practices-of-biggest-title-lender-in-us?utm_medium=social&utm_source=mastodon&utm_campaign=mastodon-post