In 2007, Harrisonburg City Council passed a resolution asking General Assembly to cap payday loan interest rates at 36 percent. At tonight’s council meeting, members could vote to reiterate that request to Richmond.
Yesterday the AP reported that Check n’ Go, the nation’s second largest payday lender, has agreed to pay Virginia $100,000 “for violating numerous state laws regulating the industry.” The State Corporation Commission cannot disclose which laws Check n’ Go violated because such reports are confidential, but a commission spokesman said an examination of the company [...]
Here’s some video I shot with a little digital still camera on Carlton Street about an hour ago.
During the last session, efforts in General Assembly to put a 36 percent interest rate cap on payday loans failed. This time, the push for an interest rate cap is coming from Virginia’s municipalities. The Staunton City Council, at the behest of council member Bruce Elder, recently passed a resolution that will ask the General [...]
Next Saturday, February 3, at 10 am, there will be an informational meeting regarding payday lending at the Library (which just launched a new website this week). Stephen Winslow (of The New Dominion and Virginia Viewpoints) will be there. I’ve written about payday lending here before. You can read Stephen’s open letter to the House [...]
Some of you might wonder why I (and other VA bloggers) have been reporting so often on this payday loan issue. I posted entries about it in November and once this month already. Today Chris Graham filed this story at the Augusta Free Press, explaining in detail the reasons why many people call payday loans [...]
Some of the ugliest buildings in Harrisonburg are payday loan businesses. The yellow pages show that there are at least nine payday loan companies in the burg. You’d think ugly buildings are reason enough to stop payday loans from popping up all over the place. But Vivian Paige has an even better reason: predatory lending. [...]
Tuesday, August 10, 2010
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