COMMONWEALTH OF VIRGINIA STATE CORPORATION COMMISSION Bureau of Financial Institutions FAST AUTO LOANS, INC., Petitioner, v. Case No. BFI-2015-00059 E.J. FACE, Jr., COMMISSIONER OF FINANCIAL INSTITUTIONS and COMMONWEALTH OF VIRGINIA STATE CORPORATION COMMISSION, Respondents. ANNUAL REPORT REF CHART Petitioner Fast Auto Loans, Inc., by counsel and pursuant to the Commission?s Order Scheduling Additional Proceedings dated January 6, 2016, produces the attached redacted Annual Report for 2014 as Exhibit A and sets forth the following legal bases for such redactions: Section Information Requested I Reasons for Redaction 10 Information and documents This request seeks a broad range of information, relating to regulatory including information and documents relating to investigations, actions taken or pending investigations against Fast Auto or any pending, by any state or af?liated companies. Such information is federal agency within the last protected from disclosure as con?dential due to three years against the licensee the pending nature of the investigations. Va. Code or any of its senior of?cers, see also Va. Code 2.2-3 705.3 directors, trustees, managers, and 22-3705 .6. principal owners or af?liates 11 Directors, management, and The number of shares owned and percentage ownership owned by particular directors and of?cers constitutes personal ?nancial information that is exempt from publication. Va. Code 6.2-101 Section Information Requested Reasons for Redaction 12 Loan Data This information constitutes proprietary and ?nancial information relating to the operation of Fast Auto?s business, the release of which would be detrimental to Fast Auto?s business and is, therefore, con?dential under Va. Code 6.2- 101 and as a trade secret protected under Va. Code 59.1-336. 13 Analysis of Delinquent Accounts and Repossessions This information constitutes proprietary and ?nancial information relating to the operation of Fast Auto?s business, the release of which would be detrimental to Fast Auto?s business and is, therefore, con?dential under Va. Code 6.2- and as a trade secret protected under Va. Code 59.1-336. 14 Legal Action This information constitutes proprietary and ?nancial information relating to the operation of Fast Auto?s business, the release of which would be detrimental to Fast Auto?s business and is, therefore, con?dential under Va. Code 6.2- and as a trade secret protected under Va. Code 59.1-336. Balance Sheet Balance Sheet ending December 31, 2014 This information is Fast Auto?s personal ?nancial information which has been furnished to the Bureau and is, therefore, con?dential under Va. Code Income Statement Income Statement ending December 31, 2014 This information is Fast Auto?s personal ?nancial information which has been furnished to the Bureau and is, therefore, con?dential under Va. Code John B. Mumford, Jr. (VSB No. 3 8764) Eileen R. Geller (VSB No. 76764) HANCOCK, DANIEL, JOHNSON NAGLE, RC. 4701 Cox Road, Suite 400 Glen Allen, Virginia 23060 jmumford@hdjn.com Respectfully Submitted, FAST AUTO LOANS, INC. var/?aw. B'y Counsel egeller@hdjn.com Phone: (804) 967-9604 Facsimile: (804) 967-9604 Counsel for Petitioner ast? Auto Loans, Inc. CERTIFICATE OF SERVICE I certify that on the 14th day of January 2016 a copy of the foregoing was ?led electronically with the State Corporation Commission. Additionally, a copy was provided to respondents and petitioners by email and US Mail to the following: DeMarion Johnston, Assoc. Gen. Counsel Todd Rose, Senior Counsel OFFICE OF GENERAL COUNSEL STATE CORPORATION COMMISSION 1300 East Main Street, Suite 800 Richmond, VA 23 2 1 8-0640 Todd.Rose@scc.virginia. gov Phone: (804) 371-9671 Facsimile: (804) 371?9240 Counsel for Respondents Christopher R. Nolen Robert W. Loftin Steven G. Popps MCGUIRE WOODS LLP Gateway Plaza 800 East Canal Street Richmond, Virginia 23219 cnolen@mcguirewoods.com rloftin@mcguirewoods.com Phone: (804) 775?1000 Facsimile: (804) 775-1061 Counsel for Petitioner Anderson Financial Services, LLC Loan Max d/b/a Loan Max Molly T. Cusson Allyson B. Baker VENABLE LLP 5 75 Seventh Street NW Washington, DC. 20004 mtcusson@venable.com Phone: (202) 344-4215 Facsimile: (202) 344?8300 Counsel for Petitioner illeMax of Virginia, Inc. Peter Bale CENTER FOR PUBLIC INTEGRITY 910 17th Street, NW, Suite 700 Washington, DC. 20006 Requester Eileen R. Geller EXHIBIT A OCH-5529 (Rev. ?214) COMMONWEALTH OF VIRGINIA STATE CORPORATION COMMISSION BUREAU OE FINANCIAL INSTITUTIONS ANNUAL REPORT OF MOTOR VEHICLE TITLE LENDERS FQR THE YEAR ENDING DECEMBER 31, 2014 Bureau of Financial Institutie as 1300 East Main Street, Suite 800 FEEJNJJUPIJCATE Post Office Box 640 Richmond, Virginia 23218~0640 I SECTION GENERAL INFORMATION Name and mailing. address of licensee: 1 2. Virginia License Number: 3. Number of motor vehicle title loan of?ces in Virginia: 69 4. E-Mail Address: 'tfieids@ciacorp.oom . 5. List any trade name or ?ctitious name used by the licensee to. conduct the metor'vehicle title lending business in Virginia: um: - 6. Name, title and business address of the chief executch Of?cer of licenseei Robert I. Reich, PresidenUCEO. 8601 Dunwoody Place Suite 406,? Atlanta, GA 30350 7. Provide the namertitie: address; telephone number. fax number and e-mail'address for. the iisdividual to be cantactcd with - respect to: (A) Questions which may arise from this report: - Terry E. Fields/Vice President/CFO Phone (770) 552-9840 8601- Dunwoody Place Suite 406 - Fax (770) 552-9553 Atlanta. GA 30350 Email tfieida@claeorp.oom (B) Scheduling Examinations: (C) Consumer Complaints: Mark Tepelc. Senior Legal Counsel Phone (770) 552-9840 8601 Dunwoody Place Suite 406 Fax (770) 552~9553 Atlanta. GA 30350 E?maii mtepeic@clacorp.oom Atlanta. GA 30350 3. Indicate below any Other businesses conducted in the iocation(s) where thc'licensee makes motor vehicle title loans in Virginia: Mark Tepslo. Senior Legal Counsel Phone (770] 552-9840 8601 Du_nWoody Place Suite 400' Fax (770) 552-9553 . - E-maii mtepeic@clacorp.com (A) Check Cashing Conducted by: (B) Payday Lending CondUthd by: (C) Money TransniissionfMoney Order Sales ELK As an agent for: if; Conducted by: (D) Tax PreparatiOn/Eiectronic Tax Filing (E) Tax Refund Anticipation Loans Conducted by: (F) Other (specify each type of other business conducted and the name(s) of any legal entity or entities that operate the other busme?sgi): Consumer Finance? Virginia Auto Loans, inc. (See Attached location listing) SECTION I (Continued) LIST OF OFFICES 9. List the physical location and mailing address of each of?ce where motor vehicle title lending is currently conducted pursuant to Chapter 22, Title 6.2 of the Code of Virginia or where Virginia motor vehicle loan records are stored, (Attach an additional 3 1/2" 11? paper if necessary.) . See Attachment REGULATORY ACTIONS. 10.:Has the licensee or any of its senior of?cers, directors, trustees, managers, principal owners or af?liates been the subject of any regulatory investigation, or action taken or pending, by any state or federal agency within the last three years? YES NO If YES, attach a complete explanation and cepies of all related documentation. See Attachment . . . - . r'q Ar.? - - w- . .v 2L1. SECTION I (Continued) DIRECTORS, MANAGEMENT AND OWNERSHIP - 11, If the licensee is a limited liability Company or corporation, list all members, managers, directors and senior of?cers (those within three reporting levels of the CEO), their titles, and their ownership interest, if any, direct or indirect, in the licensee. -If the licensee is a partnership, list the partners, along with their ownership interest, direct or indirect, in the licensee. If the licensee is a business trust, list the trustees along with their ownership interest, direct or indirect, of the licensee,? Name Title I I Senior Of?cer Check applicable title(s) Director Partner Manager Trustee Shares . Robert I. Reich President/CEO Terry E. Fields Vice President/CFO owned OWned . Itemize any individuals and/or companies not listed above with a ten percent or greater ownership interest, direct or indirect, in the licensee, including bene?cial oWners, I Name and Address Number of Shares Owned Percentage Ownership Community Loans ofAmarlca. Inc. 8601 Dunmady Place Suite 406, Alianta, GA 30350 1,000 100% a - - - - - SECTION II MOTOR VEHICLE TITLE LOANS. MADE DURING THE CALENDAR YEAR 12. Loan Data- (A) Total number of motor vehicle title loans made in Virginia during the calendar year: (B) 'I'otal principal amount of motor vehicle title loans made Virginia during the calendar year: (C) Total number of individual borrowers to whom motor vehicle title loans were made by the licensee: (D) Provide the minimum, maximum and average principal-loan amount of motor vehicle title loans made by the licensee: Minimum: Maximum:'$ .. . Average: (B) Provide the minimum; maximum and average Annual Percentage Rate of motor vehicle title lo ans made by the licenseei Minimum: Maximum: Average: (F) Provide'the minimum, maximum and average term' of motor Vehicle title loans made by the licenseet Minimum: Maximum: Average; 13. Analysis of Delinquent Accounts and Repossessions (A) Total number of individual borrowers'that failed to make ?a payment on a motor vehicle title loan for at least . . I 60days: -. - I (B) Total number of motor Vehicles that Were repossessed by or on behalf of the licensee: (C) Total number of repossessed motor- vehicles that were sold by or on behalf of the licensee: - 14. Legal Action I (A): Provide the total number of personal money judgments against borroWers that were obtained by or-on behalf ofthe licensee based on the following borrOWer actions: I. Intentionally damaging or destroying a motor vehicle that secures a title loan: I II.. Intentionally concealing a motor vehicle that secures atitle loan: Giving the licensee alien on a motor vehicle that is already encumbered by an undisclosed prior lien: IV. Subsequently giving a security interest in, or selling, a motor vehicle that secures a title loan to a third party, without the licensee?s written consent: . (B) Total amount of personal money judgments against borrovrters that were obtained by or on behalf of the licensee: 1 For the purpose of this report, the term of a motor vehicle title loan is the number of days between the execution of a written mo tor vehicle title loan agreement and the maturity date speci?ed in the loan agreement. 4 . AFFIDAVIT State cheOrgia . County orCity chUItOn I . .. . . . L'Terry E. Fields ,beingthe Vice President/CFO (Name of Officer of Licensee) (Title) of Fast Auto Loans, Inc. - - (Motor Vehicle Title Lender Licensee) or af?rm that, to the best of my information and belief, the facts in this report, including any accompanying schedules and statements, are true. 425%.. Signatufe of Of?cer of Libenaee I. i. i i I f! Subscribed and this day Mai-Ch .20 1 5 i ?ame '3 I P?blic :5 5 Registration Number of . Nae/J?- (My commission expires: 1 PLEASE MAKESURE THIS REPORT AND THE FINANCI TA EMEN 0 THE LICEN EE ARE FILED IN DUPLICATE BEFORE THE MARCH 25TH DEADLINE. IF AUDITED FINANCIAL STATEMENTS ARE BEING PREPARED BUT ARE NOT READY, PLEASE INDICATE BELOW THE APPROXIMATE DATE THAT THEY WILL BE FILEDWITH THIS BUREAU AND ATTACH CURRENT INTERNAL STATEMENTS. (If an audit of the licensee is not conducted, current internal Statements alone are accoptable and should be attached.) . Anticipated ?ling date of audited ?nancial statement of licensee! r. . Assets Cash Loans Receivable Loans ReceiVable ADD: Allowance Less: Unearn-ed Income Net Total Contracts OthgrAssepg Auto lmieritory Net Fixed Assets lntercompany Receivable Other Assets Total Assets Liabilities - Accrued Expenses lntercompany Payable Total Liabilities Stock Holders: Equity Capital Stock Pald In Qapltal ings - I'li?ti'erisi Equity -. E'?h?id?r' Equity I Fast Auto Loans, Inc Balance Sheet December 31. 2014 -- to Shareholders I certify the above information as correct to the best of my knowledge and belief. Terry E. Flelcls'I Vice PresidentiCFO [b clay MW 2015. ?Hz?~73 1" $0740}. I "Nun". .. 00 - .. P-?f-?Vr?q?rl? . 1 - . . Fast Auto Loans, Inc. Income Statement December 31, 2014 3.2m Interest Earned Total Interest Earned Miscellaneous Revenue Total Revenue Operating Expenses Bad Debt Expense Payroll 3. Personnel Expenses Advertising Rent Legal 34 Accounting Inventory Cost Travel Telephone Repairs 8. Maintaince Filing Fees Office Supplies Utilities Contract Labor Bank Charges Security Licenses 8. Tax insurance Postage 3. Freight P?n?ng Depreciation Dues 8. Subscriptions Miscellaneous Management Fees Total Operating Expenses Net income Response item #9 Fast Auto Loans, inc. License Schedule List of Locations . . 3.11:. . . ?an. Fro-mad - 1220 W. Broad Street Waynesboro, VA 22580 2550 Valley Avenue Winchester, VA 22601 7345 Little River Turnpike Annandale, VA 22003 2335 East Little Creek Road Norfolk, VA 23513 5012 East Virginia Beach Blvd. Norfolk, VA 23502 5150 Midlothian Turnpike Richmond, VA 23225 3285 Lee Highway Bristol, VA 24202 505 Clyde Morris Newport News, VA 23501 3154 Halifax Road . South Boston, VA 24592 20500-A Tlmberlake Road VA 24502 3030 South Crater Road Petersburg, VA 23305 605-A Piney Forest Road Danviile, VA 24540 4815 Williamson 'Road Roanoke, VA 24012 2101 Words Road VA 24502 2501 Memorial Avenue VA 24501 2495-5 Airline Portsmouth, VA 23701 3712 Holland Road Virginia Beach, VA 23452 540 Greenvlile Avenue Staunton, VA 24401 4701 Melrose Ave NW Roanoke, VA 24017 1579 Seminole Trail VA 22901 1205 Azalea Avenue Richmond, VA 23227 8212 Road Manaasas, VA 20111 13703 Warwick Blvd. Newport News, VA 23502 4320 Virginia Beach Blvd, Virginia Beach, VA 23452 1901 South Main Street' Harrisonburg, VA 22501 '1401 South Military Hwy Chesapeake, VA 23320 3500 Mt. Vernon Avenue Alexandria, VA 22305 1420 Armory Drive Franklin, VA 23851 5200 George Washington Hwy Portsmouth, VA 23702 7445 Tidewater Drive Norfolk, VA 23505 3590 Forest Haven Lane Chesapeake, VA 23321 .312 England Street Ashland, VA 23005 :1932 Armistead Avenue Hampton, VA 23555 5215 West Broad Street Richmond, VA 23230 755 East Main Street Wythevlile, VA 24382 2100 Roanoke Street Christianburg, VA 24073 3319 Oaklawn Boulevard Hopeweli, VA 23550 .2954 Virginia AvenUe Coilinsville, VA 24075 5099 Jefferson Avenue Newport NeWs, VA 23505 701 Boulevard Colonial Heights, VA 23534 1935 E. Pembroke Avenue Hampton, VA 23559 1109 E. Nine Mile Rd Highland Springs, VA 23075 1304 Todd?s Lane Hampton, VA 23555 1520 North Main Street Suffolk, VA 23434 530 James Madison Hwy Cuipeper, VA 22701 5401 West Broad Street Henrieo,? VA 23294 335 S. Washington Street Falls Church, VA 22045 4805 Nine Mile Road Richmond, VA 23223 1335 Kempsvilie Road Virginia Beach, VA 23454 442 Jefferson Davis Highway - Fredericksburg, VA 22401 17191 Virgil H. Goods Hwy Rocky Mount, VA 24151 3540 Plank Road Fredericksburg, VA 22407 5541 Arlington Falls Church, VA 22042 1507 Apperson Dere Salem, VA 24153 .1 . . Reoponse item #9 Fast Auto Loans, inc. License VTL-1 Schedule List of Locations . 14496 Jefferson Davis Hwy 10051 Midoiothien Turnpike 1599 Briar?aid Road 3617 Jefferson Davis Hwy 1803 W. Main Street 8363 Richmond HighWay' - 301 Market Dr. Ste A 2535 Garrisonviile Rd. 301 E. Main Street 2448 VA Beach 3in 7185 Lee HighWay - 4111 George Washington Memoriai Hwy 505 Hardy Road 3619 Tpke Richmond, VA Hampton, VA Richmond, VA Seiom, VA Aiexandria, VA Emporia, VA Stafford, VA Puiaski, VA Virginia Beach, VA Faiis Church, VA Yorktown, VA Vinton, VA Richmond, VA I an; .. Response Item 10 ("Has the licensee or any of its senior of?cers, directors, trustees, managers, principal owners or af?liates been the subject of any regulatory, investigation, or aetiontaken or pending, by any state or federal agency the last three years") 3 State Corporation Commission Bureau of Financial InstitutiOns Annual Report of Fast Auto Loans. Ing. .