Attorney General Shapiro Sues Out-of-State Car Title Lender for Violating PA Usury and Racketeering Laws

Lawsuit Seeks reimbursement greater than $3 Million in prohibited Interest to 3,200 PA customers and also the launch of Over 1,000 Remaining Title Liens

PHILADELPHIA — Attorney General Josh Shapiro today filed case against a Delaware-based automobile name loan provider for breaking Pennsylvania’s usury and racketeering guidelines.

The lawsuit alleges that Dominion handling of Delaware, Inc. And Dominion Management Services, Inc., which did company as CashPoint, issued loans with rates of interest significantly more than 200 per cent – in certain instances up to 360 per cent interest. As previously mentioned within the lawsuit, CashPoint loaned a lot more than $2.5 million through 3,200 unlawful name loans to Pennsylvania residents. Since 2013, CashPoint has gathered $5.7 million from Pennsylvania customers toward payment among these loans – a 128 % revenue. Read more ›

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