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TitleMax Appealing Refund Order

Auto title lender Title Max is appealing a judge's decision to refund thousands of title loans issued to customers in Nevada.

The Las Vegas Review-Journal reports that on Thursday the national company filed a petition for judicial review in connection to the order that it refund an estimated 6,140 customers who had a Grace Period Payments Deferment Agreement title loan in effect after Dec. 18, 2014.

The Nevada Financial Institutions Division on Aug. 12 issued a cease and desist order against the company's program, saying the grace period policy was illegal.

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An administrative hearing found the program to be unlawful because its loan periods can run longer than what's allowed by state law.

Both TitleMax and the FID declined comment.