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Senator Mary Margaret Whipple Describes Payday Reform from Last Year

Jan 11

Written by: Doug Smith
1/11/2009 1:20 PM

 

Senator Whipple, the Center's 2006 Legislator of the Year, explains in this video how the 2008 Payday Lending reform was supposed to work.....before the payday lenders realized they could mis-use the same open-ended credit statute that Car Title lenders use to charge triple digit interest.  It will be interesting to see, given how happy Senator Whipple is with the outcome of the 2008 debate, if Senate democrats will actually take leadership in ending predatory lending in Virginia.

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