The top five title lenders contributed $417,211 to General Assembly members or their political PACs from January 1, 2012 until today. That’s a lot of cash to lobby the General Assembly.
LoanMax, who is trying to locate on the corner of Osborne Road and Jefferson Davis Highway, is the top contributor in 2013 alone at $54,020. In 2012 and 2013, LoanMax remains the top contributor to sitting State Delegates and Senators and Political Action Committees at $164,770.
As read in the Richmond Times-Dispatch last Saturday, LoanMax contributed an inkind $27,000 contribution to fly Kenneth T. Cuccinelli, II, Lieutenant Governor nominee E.W. Jackson and Attorney General nominee Mark Obenshain around Virginia on a three-day campaign junket. That is $9,000 for each candidate according to the Virginia Public Access Project.
Three more politicos that LoanMax has in their pocket.
Even local Delegate Kirk Cox got $6,000 of the LoanMax bootie.
The General assembly voted to allow LoanMax and other vehicle title lenders to charge up to 220 percent interest to their customers with a loan term of nine months.
Why do you think that happened? I call that bought and paid for.
It’s common knowledge that businesses like LoanMax prey on those who make less than $25,000 a year. Why would our elected officials take contribution from such an immoral business?
Many members of the Chester community have expressed their concerns to this newspaper and oppose bringing this predatory lender to our community. A TitleMax has already been approved for Chester. Does this end of the county need two title lenders less than a quarter mile apart? Exactly 1005 feet.
According to the Virginia Poverty Law Center, when a car title lender or payday lender is located in common view, such as a corner (Osborne and Jeff Davis), those who have difficulty with a power bill, short on rent, medical bills, utilities, are temped and oftentimes pull into these places and get stuck in a loan that can ruin them financially. It happens so quick, the person taking out the loan doesn’t know what hit him.
Sign an online petition at http://chn.ge/15jS5fZ
Please email your District Supervisor and ask him or her to deny the conditional use permit for LoanMax at the corner of Osborne and JD. Email email@example.com or even better attend, the public meeting at the public meeting room at the Chesterfield County Complex in the same building as the police station on August 28, 2013 at 6:30 p.m. Even if you don’t speak your presence will be noted. And tell your friends.