Del. David Yancey endured before a panel of their colleagues while they considered one of is own bills.
The legislation aimed to tackle high-interest-rate available end lines of credit, designed to use a decades-old loophole in Virginia’s usury legislation initially meant to enable shops to provide credit cards. They charge triple-digit interest levels, and financial obligation can balloon if borrowers just make their fundamental monthly premiums.
Within 5 minutes, the users of the House of Delegates’ Commerce and Labor Committee voted contrary to the bill. It couldn’t ensure it is into the House that is full for consideration. Read More …