As limitations hit payday advances, lenders change techniques

As limitations hit payday advances, lenders change techniques

For a long time, payday lenders expanded throughout Virginia, marketing cash that is quick borrowers who’ve a work and a bank account.

That is changing into the wake of the latest state rules that took impact Jan. 1 . More of the store front side loan providers now are selling bigger loans, including car-title loans, that fall outside the range of state legislation.

Some have also surrendered their payday-lending licenses to focus on these open-end credit lines. Continue reading