Opinion: Letter to the Editor: High Interest, Suggestions

Opinion: Letter to the Editor: High Interest, Suggestions

I have 3 things I want to say about the 9/26-10/02 Alexandria Gazette News article, “High Interest, Big Money.” The first is that it is legal in Virginia for a Car Title Loan Company to charge a car title loan consumer 264% interest. That should be criminal not legal. We can blame the General Assembly for that one and should hold them accountable to change it.

The second is the article's summary inset, "a look at the top givers" which reports a total of $769,000.00 was provided to both Democratic and Republican politicians and groups but only one politician, Dick Saslaw, the Senate Democratic leader from Alexandria, was named. He received $25000. Naming only one recipient is poor reporting in my opinion and the Alexandria Gazette should apologize.

My third comment is actually a suggestion. The suggestion is that Senator Saslaw return the $2500.00 and press the Senate to support corrective lender legislation.

Kevin Bergen


Ed. note: Quoting from the article cited above; “But its two largest donations this campaign cycle went to Democrats: $30,000 to the Virginia Senate Democratic Caucus and $25,000 to Senate Democratic Leader Dick Saslaw, who represents Alexandria in the state Senate. One of the top recipients is Del. Tim Hugo (R-40), who took in more than $50,000 from the industry this campaign cycle. Another Northern Virginia lawmaker who routinely takes money from car-title lenders is Del. Kaye Kory (D-38), who received $500 from LoanMax a few days before the General Assembly session began this year.”