Virginia cries for payday loan reform
The payday lending industry seems to have taken utmost advantage of Virginia’s business-friendly climate. Now, opponents of payday lending have begun to raise their voice against this type of loan and are demanding an outright ban. Roanoke.com reports:
Yet of a slew of bills introduced this year to curb predatory lending practices — to prohibit rollover loans, limit the number a person could take out in a year and extend the pay-back time — none made it out of the House of Delegates.
Read more: Payday loan reform is past due
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