All Consuming - Financial Litigation Insights: Issue 9, November 2020

How Virginia’s 2020 Fairness in Lending Act Reforms Small-Dollar Loans -

"The law closes regulatory loopholes, caps interest rates, and provides lessons for other states."

Why this is important: Earlier this year, the Virginia General Assembly, on a bi-partisan basis, passed the Virginia Fairness in Lending Act that contains comprehensive new rules for payday, vehicle titles, installment, and open-end credit. The new law was designed to maintain widespread access to credit and ensure that every loan made in Virginia has affordable payments, reasonable time to repay and fair prices.

Please see full publication below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. Attorney Advertising.

© Spilman Thomas & Battle, PLLC

Written by:

Spilman Thomas & Battle, PLLC
Contact
more
less

PUBLISH YOUR CONTENT ON JD SUPRA NOW

  • Increased visibility
  • Actionable analytics
  • Ongoing guidance

Spilman Thomas & Battle, PLLC on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide