GA Soldier Claims He's a Victim of Predatory Lending

By: AP
By: AP

SAVANNAH, Ga. (AP) -- A Georgia-based soldier is suing a business that loaned him $4,100 at high interest, saying the terms violated a 2007 federal law that protects military service members from predatory lenders.

Army Staff Sgt. Jason Cox of Fort Benning says the car-title
loan he took out last year cost him more than $4,000 in interest
alone.

He defaulted and the lender repossessed his Dodge Durango.

The soldier is represented by former Georgia Gov. Roy Barnes,
who says Cox was charged far above the maximum annual interest rate allowed.

Barnes is seeking class-action status because the lender,
Community Loans of America, has more than 900 stores in 22 states.

It's not clear how many military members have been affected.

The company's chief executive, Robert Reich, did not return
phone calls.


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