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Back in May, LoanMax surrendered its dual licensing authority at this location in the Arlandria section of Alexandria. Until that time, the company had legal authority to offer car-title loans and consumer-finance loans, leading to concerns among many lawmakers about the possibility for a bait-and-switch operation. Five other car-title lenders currently have dual license authority to offer open-end line of credit loans, so the concern about bait-and-switch has not been resolved.

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Predatory Lenders Work Behind the Scenes to Avoid Regulation and Evade the Law

Campaign contributions and political connections used to sidestep crackdown.

Predatory Loans in the Crossfire: Lawmakers conflicted about how to handle high-interest loans.

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