From the Alexandria (Virginia) Times:

Predatory Shakedown

Councilman Justin Wilson has abandoned his bid to raise taxes on car-title lenders and payday lenders to the highest possible rate available under Virginia law. Instead he offered a “voluntary program” Tuesday night in which industry officials agreed to make ongoing commitments to fund financial literacy programs in Alexandria.

Wilson said he felt this was “a good start” and that he expected the General Assembly to take up the issue of car-title lenders next year. Meanwhile, he said, the city’s next legislative packet could include support for a car-title reform effort similar to the one crafted for the payday lending industry earlier this year. He offered the motion as measure that would “pass by indefinitely” so he could threaten to bring the tax hike at any time.

“There’s no reason we can’t move forward with this in the future,” he said. “This is not done.”