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Car-Title Loans May Come At a High Price

MaryLou, right, meets with lawyer Erin Witte in Fairfax City, Va. (Michael Pope/WAMU)
MaryLou, right, meets with lawyer Erin Witte in Fairfax City, Va. (Michael Pope/WAMU)

Car-title lending is a relatively new and largely unregulated business. A consumer can get quick cash from a car-title loan business such as TitleMax in exchange for the title to their car.

On these loans, however, interest rates are extremely high, and as reporter Michael Pope of Here & Now contributor WAMU reports, many of these businesses are avoiding regulations designed to protect consumers by offering consumer finance loans.

Reporter

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