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Jerry's Loan Center to make refunds
Return titles to eligible customers
Updated: Friday, 19 Mar 2010, 10:46 PM EDT
Published : Friday, 19 Mar 2010, 10:46 PM EDT
VIRGINIA BEACH, Va. (WAVY) - Following allegations that Jerry's Loan center violated Virginia's Consumer Finance Act, Jerry W. Thornton Sr. has agreed to provide refunds and return titles to certain customers, the U.S. Attorney's office said Friday.
Jerry's Loan Center is an automobile title lender in Virginia Beach that made loans to consumers that were secured by vehicle titles. There were three locations in Virginia Beach.
"I am pleased we were able to reach a fair and reasonable agreement with Jerry's Loan Center that will provide refunds and other relief to affected Virginians," said Attorney General Kenneth T. Cuccinelli. "We appreciate their cooperation with us throughout our investigation."
The alleged violations took place between January 2006 and October 2009, where Jerry's Loan Center charged its title loan borrowers interest rates that exceeded Virginia's legal limits.
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