Pew: Virginia’s title and payday loan regulations among laxest into the country

Pew: Virginia’s title and payday loan regulations among laxest into the country

People in Virginia whom just just just take away payday and title loans face interest levels up to 3 x more than borrowers in other states with more powerful customer 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 laws and regulations all over country,” Pew, a nonpartisan thinktank, had written. […]