RICHMOND — A bill that bans the type of online loans that hit Virginians with interest levels often surpassing 900% passed a vital first hurdle in the General Assembly on Thursday.

The legislation focusing on the internet companies additionally would slash fees levied for payday, vehicle name as well as other loans that are short-term.

It passed the homely house Labor and Commerce Committee 14-8. A comparable bill, sponsored by state Sen. Fortsätt läsa →