Payday Pundit

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Send lawyers, guns & money

April 25th, 2008 · No Comments

Funny blurb from the local Alexandria, Virginia newspaper:

When You Care Enough
The threat of a lawsuit is a time-honored motivational tool, and one that is a familiar weapon at City Hall. Since Councilman Justin Wilson announced a proposal to raise taxes on payday lenders and car-title lenders two payday-lending companies have sent lawyers to publicly threaten a lawsuit during two different public hearings. Wilson’s plan would hit all three payday lenders in Alexandria, but the vast majority of the new revenue would come from LoanMax, a car-title lending company located at the intersection of at the corner of Mount Vernon Avenue and West Glebe Road. The payday-lending companies sent several lawyers, but LoanMax hired a celebrity.

“All lenders don’t treat everybody the same,” said former City Councilman Lonnie Rich, representing LoanMax before the elected officials. “Everybody can’t walk down to Burke and Herbert to get a loan.” 

 

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Tags: Virginia · industry · local issues · regulation · states

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