Car title loans, like payday loans, are marketed as a quick financial fix, but lead to long-term debt and carry 300% annual interest rates. A typical borrower pays twice as much in interest and fees than she receives in credit extended. Nationally, car title lending drains $4.3 billion annually in excessive fees.

Car title lenders systematically disregard a borrower's ability to repay as demonstrated through (1) lenders' advertising and marketing; (2) industry data and statements; and (3) negative consumer outcomes—namely, repeat loan refinancings and vehicle repossession.

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