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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 now 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 lending that is predatory Virginia for longer than two decades. The Virginia Poverty Law Center’s hotline has counseled a huge number of title and payday loan borrowers trapped in a cycle of financial obligation.

For several, a payday that is unaffordable of some hundred bucks due right right back in one single thirty days quickly became an anchor around their necks.