Car Title Loans Quiz

1. Missouri had about 260 car title lenders in 2008.

a. CORRECT!

True. In 2008 Missouri had about 260 car title lenders.

References:
Missouri Auditors Website. (May, 2001). Division of Finance and Regulation of Instant Loan Industry, Performance Audit, Report No. 2001-36. http://auditor.mo.gov/press/2001-36.htm.

Quester, A. & Fox, J.A. (2005). Car Title Loans: Driving Borrowers to Financial Ruin, A Report by The Center for Responsible Lending and The Consumer Federation of America. Retrieved on November 10, 2009 from http://www.responsiblelending.org/media-center/press-releases/archives/car-title-loans-trap-borrowers-in-cycle-of-debt.html.