Lawmakers in Richmond are trying to crack down on high-interest loans. But, advocates against predatory lending are concerned about new loopholes that might be created in the process.
Virginia may be on the verge of losing car-title lenders and payday lenders. But, several other low-interest lending companies may be moving in to take their place — if lawmakers take action to prevent high-interest lending.
Some are hoping this will finally be the year that lawmakers crack down on high-interest lenders now that Democrats are taking control of the General Assembly.
