Virginia Is Stopping The Debt Trap, No Because Of Federal Regulators

Virginia Is Stopping The Debt Trap, No Because Of Federal Regulators

The federal CFPB is becoming a “lapdog for the lending that is high-cost,” the visitor article writers state.

By Dana Wiggins and Benjamin Hoyne (guest line)

We’ve been fighting predatory financing in Virginia for over two decades. The Virginia Poverty Law Center’s hotline has counseled large number of payday and title loan borrowers trapped in a period of financial obligation.

For most, a payday that is unaffordable of the few hundred bucks due straight straight back within one thirty days quickly became an anchor around their necks. Continue reading