Governor Ralph Northam authorized a bill this weekend that is past advocates state can help protect customers from predatory financing.
The Virginia Fairness in Lending Act, passed away by the home of Delegates and Senate previously this 12 months, is basically focused all over parameters of short-term loans. It tightens legislation on customer lending, funding for individual or home purposes, and also to shut current loopholes for corporations.
The governor did propose an amendment to speed the law up’s begin date from July 1, 2021, to Jan. 1, 2021, that will need to be authorized because of the overall Assemby if they re-convene in a few days. Continue reading “Gov. Northam approves legislation to battle predatory financing”