Crackdown on high-interest loans obstructed for 10 years in Richmond clears a vital hurdle that is first

Crackdown on high-interest loans obstructed for 10 years in Richmond clears a vital hurdle that is first

RICHMOND — A bill that bans the sort of online loans that hit Virginians with interest levels often surpassing 900% passed a vital first hurdle in the General Assembly on Thursday.

The legislation focusing on the internet organizations additionally would slash costs levied for payday, automobile name as well as other loans that are short-term.

It passed the homely house work and Commerce Committee 14-8. a bill that is similar sponsored by state Sen. Mamie Locke, D-Hampton, should come ahead of the comparable Senate committee later on this thirty days. Leer más