Main content
City of Alexandria Homepage
Wednesday, October 1  •  66°Cloudy Air Quality: Yellow
CloseWeather Forecast
Today: High 76° Low 59°
Partly CloudyAir Quality: Yellow
Thu: High 76° Low 60°
Partly CloudyAir Quality: Yellow
Fri: High 77° Low 64°
AM Clouds/PM SunAir Quality: Green
Sat: High 67° Low 45°
Showers
Sun: High 64° Low 48°
Mostly Sunny
City of Alexandria, VA City of Alexandria, VA
Communications & Public Information
Share Share RSS RSS Print Print Text Size Text Size NormalText Size LargeText Size Extra Large
Page updated Jun 26, 2008 11:03 AM
CloseComments

No Comments Posted Yet

FOR IMMEDIATE RELEASE: June 25, 2008    

Alexandria City Council Approves Voluntary Agreement
With Payday and Car Title Lenders
Lenders To Provide $20,000 To Fund Consumer Financial Education Programs

On Tuesday, June 24, the Alexandria City Council approved a voluntary agreement with the payday and car title lending industry, who agreed to provide $20,000 to fund consumer financial education programs in the City, including the City’s Dollarwise Program. Because of this voluntary agreement, the City Council voted to defer action on an ordinance that would have increased the business license tax rate to $0.58 per $100 of gross receipts on all payday and car title lenders, the maximum rate the City is allowed to tax for this subcategory of financial lenders.

“From the outset, our goal has been to protect our most financially vulnerable residents,” stated Mayor William D. Euille. “A consumer financial education program will provide information about the high costs associated with payday loans and provide alternatives that can help residents make financially sound decisions.”