Super-PAC donors: The repo man backing Romney
Source: Reuters
Super-PAC donors: The repo man backing Romney
Thu Mar 15, 2012 12:36pm EDT
By Marcus Stern
(Reuters) - Roderick Aycox is not nearly as well known as some of the hedge fund managers and Wall Street financiers giving large checks to the super-PAC supporting Mitt Romney in his quest for the presidency. In fact, since such PACs are officially independent of their candidates, Romney might well know nothing about him.
Aycox's company, Select Management Resources, of Alpharetta, Georgia, is just one of the 120 entitles that by the end of January had written checks for $100,000 or more to the pro- Romney PAC Restore Our Future, according to Federal Election Commission records.
The company's anodyne name gives no hint that Select Management Resources is in the business of title-lending, a controversial practice in which a vehicle owner, usually in dire need of cash, turns over title to a vehicle in exchange for a loan at a high interest rate.
Twenty-nine states cap interest rates at about 36 percent, but in the other 21, according to the non-partisan Center for Responsible Lending, the average annual rate for such loans is about 300 percent.
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Read more: http://www.reuters.com/article/2012/03/15/super-pac-aycox-idUSL2E8E85H920120315
Earlier thread: Predatory Lending Kingpins Quietly Funnel Massive Donations To Romney's SuperPAC
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