We are delighted that Gov. Ralph Northam have finalized the Virginia Fairness in Lending laws, an old, bipartisan assess that fixes the commonwealth’s long-standing issue with predatory financing. New legislation institutes powerful safeguards for individuals and creates a level playing field for responsible lenders.
For many years, our obsolete small-loan guidelines placed hard-working Virginians in danger of monetary hurt. Predatory loan providers are rate gouging all of our constituents by regularly asking 3 x considerably for the very same credit they available in other shows. Continue reading