Pew: Virginia’s payday and name loan rules among laxest when you look at the country
Individuals in Virginia who just take away payday and loans that are title interest levels just as much as 3 x more than borrowers in other states with more powerful consumer defenses, an analysis by Pew Charitable Trusts circulated this week concluded.
“Virginia’s small-loan statutes have actually unusually poor customer defenses, weighed against almost every other guidelines round the country,” Pew, a nonpartisan thinktank, composed. “As an end result, Virginia borrowers usually spend significantly more than residents of other states for loans and suffer harmful results, such
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