AG Frosh charges company for making predatory loans

Maryland

The Maryland Attorney General, Brian Frosh (D), announced Friday that his consumer protection division has filed charges against “Cash-N-Go Inc.”

The company, operated by Brent M. Jackson and related businesses, used the name for allegedly making unlicensed and extorted loans for people’s cars.

According to the new release, a person would be offered a short-term, high-interest loan. “Cash-N-Go Inc.” would keep the title to the car and if the person did not make a payment on the loan, the car would have been repossessed and sold.

Jackson allegedly was not licensed by the state’s commissioner of financial regulation to make loans in the state.

According to the charges, Jackson had businesses in Washington and Allegany Counties.

Other businesses associated include: Cash-N-Go Pawnbrokers LLC and Cash-N-Go Pawnbrokers Inc.

“It is illegal under Maryland law,” said Frosh. “We enforce these laws. These predatory lending schemes break people in Maryland all the time.”

A hearing on the charges has been scheduled for June 2019.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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