The occasions of unregulated high-interest lending may be arriving at a close in Virginia Given that Democrats have actually seized control of the typical Assembly, people in the Black that is legislative Caucus breaking straight down on predatory lending is regarded as their top priorities for the 2020 session. Del. Lamont Bagby (D-74) and Sen. Mamie Locke (D-2) have introduced an effort that is legislative calling the Fairness in Lending Act. The bill would cap all loans at 36 per cent and institute a maximum monthly charge of $25. “All of the loan providers...

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