PA. A.G. HENRY: VEHICLE LOAN CONSUMERS WILL GET BACK $705,000 FROM PREDATORY TITLE LOAN COMPANY VIA AG SETTLEMENT
May 18, 2023
May 18, 2023
HARRISBURG, Pennsylvania, May 18 -- Pennsylvania Attorney General Michelle Henry issued the following news release on May 17, 2023:
Attorney General Michelle Henry today announced a settlement with a Delaware-based title loan company that levied illegal interest rates -- with some borrowers paying more than 200% in annual interest.
As a result of the OAG's recent settlement, Auto Equity Loans of DE, LLC ("AEL") will refund $705,000 in unlawful interest charges . . .
Attorney General Michelle Henry today announced a settlement with a Delaware-based title loan company that levied illegal interest rates -- with some borrowers paying more than 200% in annual interest.
As a result of the OAG's recent settlement, Auto Equity Loans of DE, LLC ("AEL") will refund $705,000 in unlawful interest charges . . .