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online payday loans canada

Some online loan providers charge 900% interest and ignore Virginia legislation.

Some online loan providers charge 900% interest and ignore Virginia legislation.

A group that is loose-knit of, stung by triple-digit rates of interest on payday as well as other loans, is attempting to complete just exactly exactly what the overall Assembly won’t — make sure all loan providers, including on line ones, follow Virginia rules.

They’ve alleged lenders are hiding behind Native American tribal governments in order to get around a Virginia law banning usury and a federal anti-racketeering law that targets loan sharks’ debt collection practices in a series of federal lawsuits.