Posts Tagged Predatory Lending
Some are hoping this will finally be the year that lawmakers crack down on high-interest lenders now that Democrats are taking control of the General Assembly. Michael Pope reports.
Since the election of President Trump in 2016, efforts to crack down on predatory lending in Washington have all but ended. That’s causing a fair amount of concern among people who oppose high interest rates. Michael Pope reports.
Companies that offer high-interest loans are fighting back against efforts to reform their industry, and part of that effort involves writing checks to political campaigns. Michael Pope reports.
For people who are really hard up for quick cash, reading the fine print of a contract is not always the top priority. That’s how many businesses thrive, charging interest rates in the hundreds to desperate consumers and trapping them in a cycle of debt. Now some elected officials are fighting back. Michael Pope reports.
No job? No credit? No problem, borrowers can go online to get a loan — and pay five thousand percent interest. But, as Michael Pope reports, that era might be coming to a close.
The internet has upended the recording industry, the newspaper industry and the hotel industry. Now state regulators are looking at how to handle the latest industry to go online — cheap and easy high-interest loans. Michael Pope has details.
More than 15,000 victims of a predatory lending scheme in Virginia are having their loans absolved and receiving cash awards. That’s thanks to a $15 million settlement agreement approved in federal court in Richmond this week, one of the largest of its kind in history. Michael Pope has the story.
Lawmakers in Richmond are taking action that could result in a crackdown on high-interest loans many consider predatory. Michael Pope reports.
Lawmakers in Richmond are considering a bill that would crack down on fees attached to loans that critics call predatory. Michael Pope has the story.