Earlier in the day this Maryland Attorney General Brian E. Frosh announced charges brought by his Consumer Protection Division against a title loan firm month. Frosh alleged that the name loan business issued unlicensed and title that is usurious in Maryland, causing economic injury to susceptible Maryland residents while placing them in danger for repossession.

A name loan is a short-term loan that typically carries a top interest and needs the debtor to provide the title up for their automobile as security. Continue reading