Dorsey desires to expel TitleMax
In a press launch, the Democrat mentioned he would search to finish TitleMax lease at 5265 Lee Freeway, if this constructing had been to be included in a land trade between its proprietor, the Virginia Hospital Heart, and Arlington County.
Dorsey additionally launched a web based petition, asking residents to help him in his name to “do all we will to guard Arlingtoners from predatory lending practices.”
Dorsey’s marketing campaign press launch:
Christian Dorsey, Democratic candidate for Arlington County Council, attended a public discussion board on the Virginia Hospital Heart on Wednesday to debate the method of a potential Arlington County-hospital deal for land owned by the adjoining county to hospital property. A possible deal features a land swap, the place Arlington County would purchase property presently owned by the hospital on the nook of Lee Freeway and North George Mason Drive. This property is presently leased by TitleMax, Inc., a predatory car title lender.
If Arlington acquires the property, Dorsey has agreed to oppose any lease renewals for TitleMax. He went one step additional by promising to discover all potential methods to terminate the lease early within the occasion Arlington turns into the proprietor of the property.
“Predatory lenders cost determined households as much as 264% curiosity on loans,” Dorsey mentioned. “Arlington County shouldn’t be about benefiting from those that prey on our most susceptible populations. Due to this fact, I’ll oppose any extension of the lease to TitleMax if Arlington acquires the property. As well as, I’ll pursue all avenues that may permit us to terminate this lease when buying the land. “
“Predatory loans go towards our values right here in Arlington,” Dorsey continued. “Richmond needs to be ashamed of permitting these corporations to function with so little regulation. Charging over 260% curiosity on an auto title mortgage shouldn’t be allowed underneath any circumstances and I’ll do all the pieces in my energy to forestall these corporations from preying on susceptible Arlington working households. .