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 Illegal Interest to 3,200 PA customers and the launch of Over 1,000 Remaining Title Liens

PHILADELPHIA — Attorney General Josh Shapiro today filed case against a vehicle that is delaware-based loan provider for breaking Pennsylvania’s usury and racketeering rules.

The lawsuit alleges that Dominion handling of Delaware, Inc. And Dominion Management Services, Inc., which did business as CashPoint, issued loans with interest levels significantly more than 200 per cent – in certain instances up to 360 per cent interest. As previously mentioned within the lawsuit, CashPoint loaned a lot 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 consumers toward payment of those loans – a 128 per cent revenue.

“These defendants believed that since they had been located in Delaware they are able to evade Pennsylvania laws and regulations and exploit customers by charging you illegally high rates of interest, ” Attorney General Josh Shapiro stated. “By filing this lawsuit, I’m keeping them accountable and working to guard customers into the Commonwealth because of these forms of schemes. Continue reading “Attorney General Shapiro Sues Out-of-State Car Title Lender for Violating PA Usury and Racketeering Laws”