Thursday, February 02, 2006

LoanMax Loves Leadership

LoanMax Loves Leadership

The owner of the state's largest car title loan company has over the past year poured more than $54,000 into Iowa politics, while legislation to place restrictions on the controversial industry has languished.


And they don't even have to pay it back with 360% interest.

One of Aycox's most vocal opponents, state Sen. Joe Bolkcom, D-Iowa City, said the donations affect lawmakers' thinking.

"When Aycox flies into the state in his own airplane and drives around and sprinkles money around, people begin cooling off about standing up for average people," Bolkcom said. "This is a rather blatant example of what would appear to be Mr. Aycox investing in his ability to continue to make these abusive loans and to take advantage of people."

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