16 Nov Surovell: Little advances against predatory financing, but more to complete
This line ended up being submitted by State Sen. Scott Surovell (D-36), and will not always represent the views of Covering The Corridor.
Predatory lending, imposing abusive terms and high interest levels on borrowers irrespective of capability to spend, is just a nagging issue in Virginia, the 36th Senate District and particularly into the U.S. 1 Corridor. I shall introduce legislation in January to get rid of to those abusive methods.
There are numerous types of high-interest or loans that are predatory. First, pay day loans are loans being guaranteed against a consumer’s pay check.