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RICHMOND, Va. (AP) — Lawmakers one-upped payday lenders on Wednesday, passing a bill banning them from offering other high-interest loans. After three years of debate, the General Assembly passed tough new restrictions on the.

Federal regulators on Thursday will outline a proposal to place limits on high-interest, short-term loans – the first step in the government’s efforts to curb payday debt traps. at a public hearing in Richmond, Va., by Richard Cordray,

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Federal regulators on Thursday will outline a proposal to place limits on high-interest, short-term loans – the first step in the government’s efforts to curb payday debt traps. at a public hearing in Richmond, Va., by Richard Cordray,

Every month for about three years, Nina McCarthy followed the same routine after payday. She’d go into a Check Into Cash near her home in the Richmond, Va., area and pay off an open-end loan for $700 or $800 – and then she’d take.

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The public is invited to testify Thursday on payday loans at a government hearing in Kansas City. At a similar event last year in Richmond, Va., the consumer agency heard testimony from about 40 people. The payday lending industry.

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MONTVALE, Va. – The Dodge pickup has rust on the tailgate. They all have one thing in common: Their owners didn’t pay off a car title loan, and now they’re getting ready for auction. For years payday lenders have been the bad guy in.

New laws that cut down on the number of payday loans borrowers can get have drastically reduced the number of the short-term, high-interest loans issued in Virginia. Last year, Virginia’s payday lenders made nearly 3.4 million payday.

Payday and title loan companies, while they may provide a short term solution. Obama’s visit comes at the same.

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The proposal will be announced Thursday at a public hearing in Richmond, Va., by Richard Cordray. said in a statement. Payday loans are a $45 billion industry that serves more than than 19 million households each year,

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