July 10, 2017
LoanMax is one of the car-title lenders arguing that its annual reports should not be disclosed because they contain “personal financial information.”
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TitleMax, LoanMax and Fast Auto Loans will be able to keep details about their business secret.
How many cars did TitleMax repossess last year? What was the average loan amount for LoanMax? How many judgments did Fast Auto Loans obtain against people who were so hard up for cash that they handed over the title to their automobiles? That’s all information that these companies handed over to state regulators last year. But according to a new ruling from the Supreme Court of Virginia, it’s also information that these companies can keep secret.