12 On Your Side Alert: car title settlement - NBC12 - WWBT - Richmond, VA News On Your Side

12 On Your Side Alert: car title settlement

RICHMOND, VA (WWBT) - More than 850 customers across Virginia will receive a refund from a car title lender under a settlement with the state.

Dominion Management Services Inc. will refund nearly $600,000, announced Attorney General Ken Cuccinelli. The company does business as CashPoint, which makes consumer loans secured by motor vehicle titles.

The attorney general alleged that CashPoint operated without a license for two months in 2010 and that it charged illegally high interest rates of up to 243 percent. The settlement requires a Richmond circuit judge's approval.

CashPoint has offices in Alexandria, Charlottesville, Fredericksburg, Front Royal, Leesburg, Manassas, Richmond, Stafford, Vienna, Warrenton, Winchester and Woodbridge.

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